Originally posted by Venerable Bede:
as for banking deregulation. . .would someone let me know when the gramm-leach-bliley act was passed? thanks.
Sure. 1999.
It was 54-44 in the Senate (53 Republicans and 1 Dem voting yes, 44 Democrats and no Republicans voting no, and 1 Rep voting "Present" and 1 repub not voting.)
In the House it was:
Yeas Nays NV
Republican 207(Y) 5(N) 10 (NV)
Democratic 155 (Y) 51(N) 5(NV)
Independent 1(Y)
TOTALS 362 57 15
And signed into law by President Clinton.
The Bills Author, Senator Phil Graham, left Congress and is now a VP at UBS Investment Bank, the world's biggest manager of other people's money, and was Presidential Co-Chair of John McCains campaign and his most senior economic advisor until July. While advising the McCain campaign, Gramm was being paid by UBS to lobby Congress about the U.S. mortgage crisis.
Since then he has been seen with McCain during the campaign, and continues to be an unofficial adviser on economic and financial matters.