Neoliberalism, My Ass

[AntiBank]

30. apologist claptrap

They point to Bill Clinton’s signing of the bill that basically repealed Glass-Steagall, but they fail to mention several things. First, they forget that the bill he signed was Gramm-Leach-Bliley and it was a Republican concoction.

bullshit

Gary Gensler (ex Goldman Sachs and now Hillary's CHIEF financial advisor) and Larry Summers, both Democrats were profoundly influential in both writing and getting that ratfuck of a bill passed 90-8 in the Senate.




STATEMENT BY PRESIDENT BILL CLINTON AT THE SIGNING OF THE FINANCIAL MODERNIZATION BILL (Gramm-Leach-Bliley Act)

https://www.treasury.gov/press-center/press-releases/Pages/ls241.aspx

SEC. SUMMERS: Let me welcome you all here today for the signing of this historic legislation. With this bill, the American financial system takes a major step forward towards the 21st century, one that will benefit American consumers, business, and the national economy for many years to come. This is the culmination of years of effort by many, many people, reflects the work of presidents, Treasury officials, members of Congress, those in the private sector, from both parties, and dedicated professionals, both inside and outside the government. With their help, I believe we have all found the right framework for America's future financial system.

I want especially to thank the members of Congress who played so crucial a role in passing this legislation, thank the key regulators and the agencies they represent -- Chairman Greenspan and the Federal Reserve, Chairman Levitt and the SEC, Comptroller Hawke and the OCC, Ms. Seidman (sp) and the OTS -- for all that they have contributed to bringing us to this point. And I want to thank especially my predecessor, Bob Rubin, who cared deeply that we get this bill right, and finally, my many

Treasury colleagues -- Deputy Secretary Eizenstat, Gary Gansler (sp), Greg Bear (sp), Rick Carnell, Linda Robertson (sp), Marty Levine (sp), and Michael Bar (sp) for everything that they have done; Gene Sperling and Sarah Rosen and their colleagues at the National Economic Council for everything that they have done in bringing us to this point. Today we will hear first from the four members of Congress whose leadership was so central to the passage of this bill, in this speaking order: Chairman Gramm, Chairman Leach, Ranking Member LaFalce, and Ranking Member Sarbanes. Let me pass the podium first to Senator Gramm. (Applause.)

snip


PRESIDENT CLINTON: (Applause.) Thank you very much. Thank you. Thank you. Thank you, and good afternoon. I thank you all for coming to the formal ratification of a truly historic event. Senator Gramm and Senator Sarbanes have actually agreed on an important issue. (Laughter.) I -- MR. PODESTA (?): But I'm sitting in between them. (Laughter.)

PRESIDENT CLINTON: Stay right there, John! (Laughs.) I asked Phil on the way out how bad it was going to hurt him in Texas to be walking out the door with me. (Laughter.) We decided it was all right today. Like all those before me, I want to express my gratitude to those principally responsible for the success of this legislation. I thank Secretary Summers and the entire team at Treasury, but especially Undersecretary Gensler for their work, and Assistant Secretary Linda Robertson. And I thank you, Chairman Greenspan, for your constant advocacy of the modernization of our financial system. I thank you, Chairman Levitt, for your continuing concern for investor protections and I thank the other regulators who are here. I thank Senator Gramm and Senator Sarbanes, Chairman Leach and Congressman LaFalce and all the members of Congress who are here. Senator Dodd told me the Sisyphus story, too, over and over again, but I've rolled so many rocks up so many hills, I had a hard time fully appreciating the sgnificance of it. (Laughter.)


snip

But I do want to thank all the members here and all those who aren't here and I'd like to thank two New Yorkers who aren't here who have been mentioned -- former Secretary of the Treasury Bob Rubin, who worked very hard on this, and former chairman, Senator Al D'Amato, who talked to me about this often. So this is a day we can celebrate as an American day. To try to give some meaning to the comments that the previous speakers have made about how we are making a fundamental and historic change in the way we operate our financial institutions............................



snip

Finally I especially love how it shamefully uses race and gender as a left wing reverse dog whistle, as if PoC and women are a bulwark for neoliberalism and doing god's work by pushing forth further corporatist, anti-worker, anti-democratic laws treaties, and policies (which in reality, of course, they are not). Talk about misappropriation!!!!