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View Diary: VIDEO from 1999: Byron Dorgan vs. Gramm Leach Bliley-- WOW (197 comments)

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  •  53 Republicans voted for it, 1 Dem (8+ / 0-)

    Here we are now Entertain us I feel stupid and contagious

    by Scarce on Wed Apr 08, 2009 at 04:21:29 AM PDT

    •  This is an very important meme (2+ / 0-)
      Recommended by:
      rweba, skymutt

      The one Dem that voter for the repeal of the Glass Seagel act is no longer in the Senate.

      The minority allowed the bill to go forward with a simple majority vote.... and NO FREAKING DEMS VOTED FOR THE DESTRUCTION OF THE FINANCIAL SYSTEM!

      Yes Clinton signed the law - that was stupid - but THE SUPER MAJORITY OF DEM SENATORS VOTED AGAINST IT.

      So don't give us the meme that they are bought and paid for.

      Once again - like closing the ENRON loop hole - Democrats are the only true patriots by ensuring our Republic can still stand!

      Takin it to the streets....Doobie Brothers

      by totallynext on Wed Apr 08, 2009 at 05:12:40 AM PDT

      [ Parent ]

      •  Yes and no (6+ / 0-)

        The original Senate version was split up and down party lines, and if the Democrats had had the advantage then the bill would have died there but they didn't.

        In the final version voted on about six months later that put the Senate and House versions together the Gramm-Leach-Bliley Act passed 92-7 in the Senate.

        There were 7 Democratic hold-outs:

        Barbara Boxer, Richard Bryan, Byron Dorgan, Russell Feingold, Tom Harkin, Barbara Mikulski, Paul Wellstone

        http://projects.washingtonpost.com/...

        As for Bill Clinton, he would have signed even more business-friendly legislation given the chance.

        Here we are now Entertain us I feel stupid and contagious

        by Scarce on Wed Apr 08, 2009 at 05:26:20 AM PDT

        [ Parent ]

        •  At least he (Bill Clinton) (2+ / 0-)
          Recommended by:
          PsychoSavannah, skymutt

          could have, should have asked for stronger regulation to support the bill. When the Glass-Steagall act was repealed, I was struck by one of the largest mergers, at least until then, of Travelers Group and the Citi being something that could create some problems in the future. Of course, in those days, the business had a new mantra: problems -> opportunity; in line with conventional thinking I replaced the word "problem" with "opportunity" and made an ass of myself.

          I cringe whenever a student/reporter rephrases a statement around the word "opportunity".

          Enough of this misplaced "management" correctness (meaning its correct because your boss likes it): a problem is a problem;it is not an opportunity, at least not for the one facing the problem.

    •  I didn't realize that (1+ / 0-)
      Recommended by:
      Murdershewrote

      I thought it was fairly bipartisan.  I'm pretty amazed that Dems were so united against it.  

      I've been down on the Dems from that time period, but this information will help me a little bit towards liking them.

      If you can't stand up to Rush Limbaugh, how can you stand up to The Axis Of EEEEEEEEvil?

      by otto on Wed Apr 08, 2009 at 08:22:09 AM PDT

      [ Parent ]

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