Bill Clinton In the Mortgage Crisis

[Ichingcarpenter]

http://www.progressivehistorians.com/2007/11/bill-clintons-role-in-mortgage-crisis.html

[femmedem]

1. Very informative, thank you. n/t

[madrchsod]

2. well ,i wonder what the folks are going to think of billy boy now....

here`s a great issue for the republicans and obama to ask hillary if she is going to reinstate the act....my ,my my,the things ya learn everyday...

[acmavm]

3. I'm truly loving all this. Do you know how many (metaphorical) ass whuppins

I took here for pointing out that billy jeff peckerwood wasn't the wunderkind people were so damn convinced he was? More that my share, that's for damn sure. And now since Hillary's run it's become fashionable to point out what a opportunistic SOB he was/is.

From the article:

<snip>

When Bill Clinton gave that pen to Sanford Weill, it symbolized the ending of the twentieth century Democratic Party that had created the New Deal. Although the 1999 law did not repeal all of the banking Act of 1933, retaining the FDIC, it did once again allow banks to enter the securities business, becoming what some term "whole banks."

The repeal of one of the most important pieces of legislation in this nation's history came about as a result of another Clinton "triangulation," the wobbling attempt to find the middle of the road that has somehow managed to pass for a philosophy with many Democrats for over two decades. As former Clinton former campaign Richard Morris once described it, you move a little to the left, a little to the right. I'd love to hear Clinton give that explanation to a foreclosed home owner today.

With the stroke of a pen, Bill Clinton ended an era that stretched back to William Jennings Bryan and Woodrow Wilson and reached fruition with FDR and Harry Truman. As he signed his name, in the whorls and dots of his pen strokes William Jefferson Clinton was also symbolically signing the death warrant of Liberal America and its core belief in the level playing field that had guided the Democratic Party. But it was the gift of the pen to Sanford Weill and its assuming an honored place on the Wall of Me that rubbed salt in the wound.

[Ichingcarpenter]

4. The PBS "Front Line" story followed this too

Citigroup, who we know now are backed by the Saudis was a major player
then and now. The head of Citigroup is Robert E. Rubin, the former Sec. of Treasury
under Bill Clinton, who endorsed Hillary in November.

http://thecaucus.blogs.nytimes.com/2007/11/07/rubin-to-back-clinton/



A chronology tracing the life of the Glass-Steagall Act, from its passage in 1933 to its death throes in the 1990s, and how Citigroup's Sandy Weill dealt the coup de grâce.

http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html