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Glass Steagall

John Dingell gets it right in 1999

Submitted by Roanman on Tue, 01/31/2012 - 19:15


Too bad he goes to babbling a bit about privacy issues at the end of this speech, because John Dingell hits it out of the park ... with men on ... and then some ... during the 1999 debate on the Gramm-Leach-Biley Act.  

Which legislation repealed those portions of the Glass Steagall act that seperated institutions that take customer's deposits from investment banks and insurance companies.

Too big to fail said Mr. Dingell in 1999.





Click on the above cartoon to link up to Khalil Bendib who I think is the above artist as I can't read the name ... at



What happened to Glass Steagall?

Submitted by Roanman on Tue, 01/31/2012 - 19:15


In case your wondering what Glass Steagall is in the first place, this vid provides a simple and sufficient answer to that question.

In a nutshell Glass Steagall is the shorthand name for legislation passed in 1933 that was specifically designed to help prevent another stock market crash ala 1929 and subsequent depression ala "The Great Depression".

It worked like a charm too ...... right up until the moment it was repealed. 

Democrats are gonna hate this story as it totally blows up the notion that the powers that be within the Democrat party care one whit more about you than do those reprehensible fascists of the right.

If you take the time to watch this, you'll at least have an understanding of what hit you.



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