1999 Warning Of Too Big To Fail Banks

Discussion in 'Politics' started by pspr, Oct 23, 2011.

  1. pspr


    <object width='464' height='300' id='2193451' type='application/x-shockwave-flash' classid='clsid:D27CDB6E-AE6D-11cf-96B8-444553540000' alt='Too Big To Fail (1999 Warning In Congress) in http://www.break.com/'><param name='allowFullScreen' value='true' /></param><param name='flashvars' value='playerversion=12'></param><param name='movie' value='http://embed.break.com/MjE5MzQ1MQ=='></param><param name='allowScriptAccess' value='always'></param><embed flashvars='playerversion=12' src='http://embed.break.com/MjE5MzQ1MQ==' type='application/x-shockwave-flash' allowFullScreen='true' allowScriptAccess='always' width='464' height='300'></embed></object><br><font size=1><a href='http://www.break.com/' target='_blank'>Too Big To Fail (1999 Warning In Congress)</a>
  2. Incredible.
  3. Rep. John Dingell (D-Mich.), whose father helped write Glass-Steagall in the 1930s, saw it in clearer terms. “The banks had been working on it for 40 — no, hell no — since it was enacted, the banks have been trying to get rid of it,” said Dingell, chairman of the Energy and Commerce Committee. “They worked like hell. They finally wore this place down. Everybody forgot what happened during the Depression and why Glass-Steagall was passed.”
  4. Brooksley Born was another that warned of the impending disaster all the way back to 1998. Greenspan, Rubin and Summers had her railroaded out. Three guys that should all be doing prison time.