THIS IS AMAZING---FROM 1999 WHAT SCHUMER AND SUMMERS SAID ABOUT DE-REG !
Next time you see Charles Schumer denouncing the GOP for financial deregulation, SHOW HIM THIS !
Both he and Lawrence Summers both waxed triumphant in joining the GOP in the Rape of the American Economy.
So what happens?
Obama appoints Summers his chief economic adviser, and Schumer postures as having been against what he was ardently championing !
More pointedly.....GOP RICHARD SHELBY VOTED "NO" !!!
Isolated Quotes Immediately Below.
Full NYT Article URL right after the quotes.
''The concerns that we will have a meltdown like 1929 are dramatically overblown,'' said Senator Bob Kerrey, Democrat of Nebraska. Others said the legislation was essential for the future leadership of the American banking system.
''If we don't pass this bill, we could find London or Frankfurt or years down the road Shanghai becoming the financial capital of the world,'' said Senator Charles E. Schumer, Democrat of New York. ''There are many reasons for this bill, but first and foremost is to ensure that U.S. financial firms remain competitive.''
''Today Congress voted to update the rules that have governed financial services since the Great Depression and replace them with a system for the 21st century,'' Treasury Secretary Lawrence H. Summers said. ''This historic legislation will better enable American companies to compete in the new economy.''