Feb 19, 2016 3:20 AM GMT
Top Financial Regulator Might Actually Break Up ‘Too Big To Fail’ Banks
desertmuscl saidAfter the Clinton era repeal of Glass-Steagall they are finally thinking they should unwind the mess somehow?
Q: Did Bill Clinton Repeal the Glass-Steagall Act?
A: No, but he signed into law the Gramm-Leach-Bliley Act, which repealed some of the provisions of the Glass-Steagall Act.
The three co-sponsors of the Gramm-Leach-Bliley Act were:
Sen. Phil Gramm - R
Rep. Jim Leach - R
Rep. Thomas J. Bliley, Jr. - R
In 1999, the Republicans held a majority in both the Senate and the House of Representatives.
The final version of the Gramm-Leach-Bliley Act passed the House by a vote of 362-57 and the Senate by a vote of 90-8. This made the bill "veto proof", meaning that if Clinton had decided to veto, the bill would have been passed anyways.