Do your homework. He had no choice but to sign it. It was put into the "Fiscal Year 2001 Appropriations Act". http://www.govtrack.us/congress/bill.xpd?bill=h106-4577 It also passed the Congress without even a committee hearing or a recorded vote. That Phil Gramm and his two buddies from Indiana ( Dick Luger and Pete Fitzgerald ) were pretty clever. Stuff the legislation that allowed CDS to "trade" under the desk and OTC without any regulation, clearing house, or exchange mechanism into the FY 2001 Appropriations Act. The legislation also allowed WTI crude to trade electronically over in London and Dubai ( via ICE ) without any CFTC regulation, transparency, position limits, etc. How very clever.
They must put something funny in that water of yours down in Texas cause you make no mention whatsoever of how George Bush and all of his incompetent appointees such as Christopher Cox at the SEC and his buddies like Phil Gramm have already WIPED-OUT middle-class wealth in this once great Country, and then some. Destruction of Wealth? Where have you been my friend? It's already happened. Or have you been living in a cave in Texas and don't realize that the stock market is at 6 year lows and the economy has seen the worst three consecutive months of unemployment since 1945? You must live in a lot of DENIAL. And I'm not talking about a river in Egypt.
Wow, you're incredibly dense... Clinton did have a choice but he had no principles and probably no clue of the impact of repealing Glass-Steagall. No president with principles who understood the repercussions would sign something that wrong into law just for the convenience of passing the appropriations bill.
Newsflash libtards --- Bush and Gramm are history. Now we have Obama socialism and the abdication of personal responsibility by rewarding fraudsters and the irresponsible in the name of the "greater good" by bailing them out with money our children and grandchildren will have to repay. People used to sacrifice so future generations could lead better lives. Now we steal from future generations to underwrite our mistakes, hoping it will make our lives undeservedly easier. Not only is that stupid, it's immoral. Explain why this (what's happening NOW) is a good idea.
Yeah, they're history but their $65 TRILLION in CDS exposure isn't. And so isn't the complete meltdown in the financial markets, or an economy that is seeing the worst three months of unemployment numbers since 1945, or a totally screwed-up TARP-1 at $700 Billion that was put together by yet another INCOMPETENT BUSH APPOINTEE, or an AIG that we loaned $145 Billion of taxpayer money to because of all the CDS that they sold due to Phil Gramm and his buddies in Congress, or the total lack of confidence that the public has in the financial markets given another INCOMPETENT BUSH APPOINTEE that was asleep at the wheel at the SEC. Funny how you don't seem to have any problem with ALL of those "bail-outs" under the Bush Administration and the incompetents that set them in motion, but you now claim "rape" in the first month of a new Administration. Congrats Trader666. You just made my IGNORE list.
Wrong. If the democraps keep trying to turn the country into a socialist welfare state they'll get fired again en masse like they were in 1994.