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2016-07-19

Republican Platform Unexpectedly Calls For A Return To Glass-Steagall

a law which was repealed under President Bill Clinton, husband of, well you know...

While we know better than to trust politician promises, we were surprised to read that today the GOP joined the Democrats in calling for a repeal of Gramm-Leach-Bliley, the Financial Services Modernization Act of 1999 pushed through by none other than Bill Clinton, 

and will seek a return to Glass-Steagall, the banking law launched in 1933 in the aftermath of the Great Depression meant to prohibit commercial banks from engaging in the investment business, and which according to many was one of the catalysts that led to the Global Financial Crisis.

According to The Hill, Paul Manafort, Donald Trump's campaign manager, told reporters gathered in Cleveland Monday that the GOP platform would include language advocating for a return of that law, which was repealed under President Bill Clinton, husband of, well you know...

Zerohedge 18 July 2016


The 1933 Glass-Steagall Act separated commercial and investment banking.... more





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