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Otelo

(62 posts)
Fri Apr 25, 2014, 03:05 PM Apr 2014

Did Hillary agree with Bill's signing of the Gramm-Leach-Bliley Act in 1999?

As you may know from what Nobel-prize winning economists and others have told you, the Gramm-Leach-Billey Act signed by Bill Clinton was at the core of the financial crisis that affected us in the late 2008's.

Thinkprogress: "Economic experts say that Gramm and others are to blame for the current crisis that is shaking Wall Street.
Gramm’s successful effort to pass banking reform laws in 1999, which reduced decades-old regulations separating banking, insurance and brokerage activities, helped to create the current economic crisis.
“As a result, the culture of investment banks was conveyed to commercial banks and everyone got involved in the high-risk gambling mentality. That mentality was core to the problem that we’re facing now,” Stiglitz says."
Link

I don't want to jump to conclusions and say that since Hillary was Bill's wife, then we have to automatically assume that she agreed and still agrees with Bill's signing that awful law. I am simply going to ask you guys to tell me if you have heard her speak against it in the past, in newspapers, TV or any other medium. This might be key in my decision to vote for her or another more progressive Democrat in the primaries. Thanks.

14 replies = new reply since forum marked as read
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Cooley Hurd

(26,877 posts)
1. ...also known as the Financial Services Modernization Act of 1999
Fri Apr 25, 2014, 03:08 PM
Apr 2014

(defined because I knew it by this name).

Good effing question!

hootinholler

(26,451 posts)
4. No one who was paying any attention was misled by * on Iraq
Fri Apr 25, 2014, 03:17 PM
Apr 2014

Powell was not misled, he knew.

The misled thing is a cover story.

Amak8

(142 posts)
5. All signs point to yes
Fri Apr 25, 2014, 03:18 PM
Apr 2014
But Clinton offered a message that the collected plutocrats found reassuring, according to accounts offered by several attendees, declaring that the banker-bashing so popular within both political parties was unproductive and indeed foolish. Striking a soothing note on the global financial crisis, she told the audience, in effect: We all got into this mess together, and we’re all going to have to work together to get out of it. What the bankers heard her to say was just what they would hope for from a prospective presidential candidate: Beating up the finance industry isn’t going to improve the economy—it needs to stop. And indeed Goldman’s Tim O’Neill, who heads the bank’s asset management business, introduced Clinton by saying how courageous she was for speaking at the bank. (Brave, perhaps, but also well-compensated: Clinton’s minimum fee for paid remarks is $200,000).
Certainly, Clinton offered the money men—and, yes, they are mostly men—at Goldman’s HQ a bit of a morale boost. “It was like, ‘Here’s someone who doesn’t want to vilify us but wants to get business back in the game,’” said an attendee. “Like, maybe here’s someone who can lead us out of the wilderness.”


Read more: http://www.politico.com/magazine/story/2013/12/wall-street-white-house-republicans-lament-of-the-plutocrats-101047.html
 

Rex

(65,616 posts)
9. Ummm...no...the financial crisis was caused by 8 years of maleficence by the BFEE.
Fri Apr 25, 2014, 03:45 PM
Apr 2014

Nice try at GOP CYA and welcome (back) to DU.

 

Otelo

(62 posts)
10. Is Joseph Stiglitz a GOP'er?
Fri Apr 25, 2014, 03:46 PM
Apr 2014

Oh no wait. Bashing a DU'er is more fun.

Say something about Stiglitz. And how is it a GOP talking point if the bill was supported almost 100% by GOP'ers, and I criticize their beloved bill?

jwirr

(39,215 posts)
13. I am a great fan of Stiglitz. And I want to know the answer to the question you originally posed.
Fri Apr 25, 2014, 05:56 PM
Apr 2014

There were a lot of things like this bill that happened in the Clinton terms. Where does Hillary stand on things like trade agreements? Where does she stand on the question you asked? She needs to tell us who she is because she has been around for much of this.

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