Alan Greenspan dead at 100
- Thread starter invadertim
- Start date
Minuteman
Shipoaster
From the article: “…Greenspan, a conservative acolyte of philosopher Ayn Rand, a leading advocate of free-market capitalism…”
Duder seems to have walked the country from the S&L crisis to the subprime mortgage era of "too big to fail" (tho certainly not single-handedly).
“The Gramm–Leach–Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, repealed part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies, and insurance companies that prohibited any one institution from acting as any combination …
With the passage of the Gramm–Leach–Bliley Act, commercial banks, investment banks, securities firms, and insurance companies were allowed to consolidate. Furthermore, it failed to give to the SEC or any other financial regulatory agency the authority to regulate large investment bank holding companies. The legislation was signed into law by President Bill Clinton.”
Duder seems to have walked the country from the S&L crisis to the subprime mortgage era of "too big to fail" (tho certainly not single-handedly).
“The Gramm–Leach–Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, repealed part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies, and insurance companies that prohibited any one institution from acting as any combination …
With the passage of the Gramm–Leach–Bliley Act, commercial banks, investment banks, securities firms, and insurance companies were allowed to consolidate. Furthermore, it failed to give to the SEC or any other financial regulatory agency the authority to regulate large investment bank holding companies. The legislation was signed into law by President Bill Clinton.”
