Bill Clinton and the repeal of the Glass-Stiegal Act

[NashvilleLefty]

22. Although I agree that repeal of Glass-Steagal

was a HUGE mistake and ultimately did lead to many of the problems of the current recession, this reads like a "hit piece". Just read the first 2 sentences:

Many Democrats wish Bill Clinton still occupied the White House. However, before you put him in Mt. Rushmore, you might want to investigate his role in the mortgage foreclosure crisis.

Now, I agree that some Leftys look at Bill Clinton like Rightys look at Ronald Regan and we should have an objective look at each of them, but this particular piece seems to take many liberties.

Repealing Glass-Steagal was a mistake, but it wasn't all Clinton's fault. And it wasn't a total repeal of the New Deal as the blogger suggests. The repeal was wrong and a major mistake, but it's also wrong to summarize Clinton's 8 years with this single mistake IMHO.

It would be much more productive to create a new, updated version of Glass-Steagal rather than pointing fingers.