Glass-Steagall Act - An act to separate commercial banks and investment banking activities, implemented after the crash of 1929, then repealed by Clinton and Democrats

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[–]dicknipples 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (4 children)

As usual - promotion of GOP misinformation on Saidit.

READ: https://en.wikipedia.org/wiki/Decline_of_the_Glass%E2%80%93Steagall_Act

The Senate Banking Committee approved in a straight party line 11 [Repuglicans] vs 9 [Dems] vote a bill (S. 900) sponsored by Senator Gramm [& Leach & Bliley all REPUGS] that would have repealed Glass–Steagall Sections 20 and 32 and that did not contain the CRA provisions in the Committee's 1998 bill. The nine dissenting Democratic Senators, along with Senate Minority Leader Thomas Daschle (D-SD), proposed as an alternative (S. 753) the text of the 1998 Committee bill with its CRA provisions and the repeal of Sections 20 and 32, modified to provide greater permission for "operating subsidiaries" as requested by the Treasury Department. Through a partisan 54 [53 Repugs] vs 44 [Dems] vote on May 6, 1999 (with Senator Fritz Hollings (D-SC) providing **the only Democratic Senator vote in support), the Senate passed S. 900. The day before, Senate Republicans defeated (in a 54-43 vote) a Democratic sponsored amendment to S. 900 that would have substituted the text of S. 753 (also providing for the repeal of Glass–Steagall Sections 20 and 32).

READ ALSO: https://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act

That was a Repuglican bill, passing the Senate with 53 Repugs and one traitor Dem, and signed by traitor president Clinton. Republicans have been fucking over the US since 1980.

[–]EternalSunset 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

It's both sides of the aisle spitroasting americans and the world on a bipartisan threesome.

[–]Site_rly_sux 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Tell that to dipshit op, then

[–]dicknipples 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

^

[–]SoCo 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Republicans opposed the bill with the back door. Democrats wanted backdoor or nothing. We got nothing, as usual. Was it the right call? We will never know, but we never should have been in the position to be blackmailed for backdoors.

[–]IMissPorn 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Dang, I had never heard of that before, but it sounds reasonable. Probably should have kept that in place.

[–]William_World 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

but keep in mind it's because conservadems are wrongly too much like repubs. Repubs like trump were in charge with majorities and didn't put glass steagall back in, not that dems would either.

[–]Site_rly_sux 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

https://v.redd.it/ge1p0k2h0lna1

[–]UncleWillard56 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Funny story, the Dodd-Frank Act, you know, the one that was to put more regulations on banks, was sponsored by Barney Frank. Take a wild guess who he is a consultant for...

https://www.wsj.com/articles/barney-frank-pushed-to-ease-financial-regulations-after-joining-signature-bank-board-e5c8819c

[–]William_World 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

and he's gay and being blackmailed with young boy pedo pictures