Toles Sketch: Not-Most wanted...

[n2doc]

[Botany]

1. The one person who did more than anybody else

Phil Graham and the pulling of Glass Steagall (Wiki)

The bill that ultimately repealed the Act was introduced in the Senate by Phil Gramm (Republican of Texas) and in the House of Representatives by Jim Leach (R-Iowa) in 1999. The bills were passed by Republican majorities on party lines by a 54-44 vote in the Senate<12> and by a 343-86 vote in the House of Representatives<13>. After passing both the Senate and House the bill was moved to a conference committee to work out the differences between the Senate and House versions. The final bill resolving the differences was passed in the Senate 90-8 (1 not voting) and in the House: 362-57 (15 not voting). The legislation was signed into law by President Bill Clinton on November 12, 1999. <14>
The banking industry had been seeking the repeal of Glass-Steagall since at least the 1980s. In 1987 the Congressional Research Service prepared a report which explored the case for preserving Glass-Steagall and the case against preserving the act

Financial events following the repeal
The repeal enabled commercial lenders such as Citigroup, which was in 1999 the largest U.S. bank by assets, to underwrite and trade instruments such as mortgage-backed securities and collateralized debt obligations and establish so-called structured investment vehicles, or SIVs, that bought those securities.<15> It is believed by some including ? that the repeal of this act contributed to the Global financial crisis of 2008–2009<16> <17>, although some maintain that the increased flexibility allowed by the repeal of Glass-Steagall mitigated or prevented the failure of some American banks.<18>
The year before the repeal, sub-prime loans were just 5% of all mortgage lending. By the time the credit crisis peaked in 2008, they were approaching 30%

[DS1]

2. He should find a cheap letterer