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In reply to the discussion: Elizabeth Warren Introduces 21st Century Glass-Steagall Act [View all]progressoid
(53,576 posts)64. He SUPPORTED it sparky. A veto wasn't even an issue.
When he signed it:
Today I am pleased to sign into law S. 900, the Gramm-Leach-Bliley Act. This historic legislation will modernize our financial services laws, stimulating greater innovation and competition in the financial services industry. America's consumers, our communities, and the economy will reap the benefits of this Act.
http://www.presidency.ucsb.edu/ws/?pid=56922
During the Banking Crisis he defended it:
MARIA BARTIROMO
Mr. President, in 1999 you signed a bill essentially rolling back Glass-Steagall and deregulating banking. In light of what has gone on, do you regret that decision?
FORMER PRESIDENT BILL CLINTON
No, because it wasn't a complete deregulation at all. We still have heavy regulations and insurance on bank deposits, requirements on banks for capital and for disclosure. I thought at the time that it might lead to more stable investments and a reduced pressure on Wall Street to produce quarterly profits that were always bigger than the previous quarter. But I have really thought about this a lot. I don't see that signing that bill had anything to do with the current crisis.
http://www.businessweek.com/stories/2008-09-23/bill-clinton-on-the-banking-crisis-mccain-and-hillary
Eventually (in 2010) he blamed his advisors:
On derivatives, yeah I think they were wrong and I think I was wrong to take [their advice] because the argument on derivatives was that these things are expensive and sophisticated and only a handful of investors will buy them and they dont need any extra protection, and any extra transparency. The money theyre putting up guarantees them transparency, Clinton told me.
http://abcnews.go.com/blogs/politics/2010/04/clinton-rubin-and-summers-gave-me-wrong-advice-on-derivatives-and-i-was-wrong-to-take-it/
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AMEN! She has huge courage and excellent values. She's looking out for the public like
AikidoSoul
Jul 2013
#65
What those in Washington don't realize is going along with someone like Warren is all that stands
yurbud
Jul 2013
#32
This is a necessity. We need to make this a big election issue in 2014. It will favor Democrats
JDPriestly
Jul 2013
#7
Finally something I can be proud of. Cantwell is my senator. Thank you Warren, Cantwell, and King.
liberal_at_heart
Jul 2013
#9
You're absolutely right..Even if it passes in the Senate, it's DOA in the House.
red dog 1
Jul 2013
#72
Senators Warren, McCain, Cantwell, and King Introduce 21st Century Glass-Steagall Act
ProSense
Jul 2013
#17
Five and a half years after Bush, a DEMOCRATIC Senator finally introduces such a bill.
AnotherMcIntosh
Jul 2013
#20
And where are the so-called conservatives who want to return to the past?
lindysalsagal
Jul 2013
#25
And Hilary voted for the Iraq invasion, as well. And then made a snarky speech against it on the ste
lindysalsagal
Jul 2013
#53
He knew because the neocons wrote him a letter in 97 asking to invade iraq.
lindysalsagal
Jul 2013
#80
No, he isn't. Once the veto is overridden it becomes law without his signature. n/t
PoliticAverse
Jul 2013
#68
Thank You For Sharing - I Wish More Senators Represented Americans As Well
cantbeserious
Jul 2013
#28
I'm pretty far left, almost to point of being socialist. You've peaked my curiosity.
liberal_at_heart
Jul 2013
#43
Because I don't consider anything that Warren asks for being more than common sense.
raouldukelives
Jul 2013
#55
And then how about a better anti-trust law? Something to breakup ANY "too big to fail."
tclambert
Jul 2013
#30