I changed the headline to draw more hits to this thread.

Jeff J

Gramm-Leach-Bliley Act of 1999
Who signed that Bill?

McCain got what he wanted (deregulation) and this is the consequence.
Only in the mind of a simpleton idiot.

Bob and Ohmama ignore this bill which was to add regulations to the GSE's.

Obama had just joined the Senate when McCain co sponsered the Federal Housing Enterprise Regulatory Reform Act of 2005, S. 190.

But Obama is a economic expert....hahahah

Yeah, and you're a "mid-town cowboy". Hoo ha.

Two words: Ownership Society

I changed the headline to draw more hits to this thread.

The article says the problem began in 2004. Republicans were in control of Congress in 2004. How is it the Dems' fault?

Gramm-Leach-Bliley Act of 1999

Who signed that Bill?

#3 | Posted by midtowncowboy at 2008-09-23 01:39 PM | Reply

Easy enough to see. Click on the link.

The bills were introduced in the Senate by Phil Gramm (R-TX) and in the House of Representatives by James Leach (R-IA). The bills were passed by a 54-44 vote along party lines with Republican support in the Senate[1] and by a 343-86 vote in the House of Representatives[2]. Nov 4, 1999: After passing both the Senate and House the bill was moved to a conference committee to work out the differences between the Senate and House versions. Democrats agreed to support the bill only after Republicans agreed to strengthen provisions of the Community Reinvestment Act and address certain privacy concerns.[3] The final bipartisan bill resolving the differences was passed in the Senate 90-8-1 and in the House: 362-57-15. Without forcing a veto vote, this bipartisan, veto proof legislation was signed into law by President Bill Clinton on November 12, 1999. [4]

By 2005, the effects of this bill were evident. If it didn't pass in 2005, or 2006, it was a Republican President, and a republican Congress. Hardly the Dems fault. But the problem wasn't this stop gap legislation---the problem is that the deregulation of 1999 allowed this snowball to get started downhill. This bill was veto proof--so you can't blame Clinton either.

Right now---the GRAMM of the GRAMM-Leach-Bliley Act is McCains ECONOMICS ADVISOR. That shows McCains judgement---and how his economics would be bad for America.

Midtowncowboy

McCain has been fighting government regulation of business for his whole political life. He has always been for deregulation. Of course just because McCain says something, you still believe he says what you want him to say.

McCain was for deregulation and the Gramm-Leach-Bliley Act of 1999. McCain still has no regrets about that bill. He says it helped stimulate the economy. How about that.