Glass-Steagall Act - Wikipedia, the free encyclopedia
was that great pal of Bliar's , Clinton, that repealed lass-Steagall Act which, had it been extant would have prevent America's woes and vitally, if we had , had an equivalent in Britain, would have saved us.
if Brown really foresaw this crash 10 years ago, why did he not pasS a UK equivalent of the Glass-Steagall Act?-which outlawed, the mixing of ordinary deposit banking with investment(?merchant) banking, as I understand it. The buying and selling of complex securities fuelled speculation and caused our house price and credit bubbles AS ANY FOOL CAN SEE- SO WHY DIDN'T BROWN STOP IT???!!!! one thing to learn forever is that all bubbles burst, and to stop them while you can
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The Financial Services Modernisation Act 1999,which undid Glass Speagall was the work of 3 Republican politicians Gramm, Leach and Bliley.
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