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bush proposes plan to give FED more power!!
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[QUOTE]Originally posted by glassman: [QB] i hate to tell you Dems this, but i DO NOT like the Clintons for VERY good and well thought out reasons: [b]Clinton, Republicans agree to deregulation of US financial system By Martin McLaughlin 1 November 1999 An agreement between the Clinton administration and congressional Republicans, reached during all-night negotiations which concluded in the early hours of October 22, sets the stage for passage of the most sweeping banking deregulation bill in American history, lifting virtually all restraints on the operation of the giant monopolies which dominate the financial system. The proposed Financial Services Modernization Act of 1999 would do away with restrictions on the integration of banking, insurance and stock trading imposed by the Glass-Steagall Act of 1933, one of the central pillars of Roosevelt's New Deal. Under the old law, banks, brokerages and insurance companies were effectively barred from entering each others' industries, and investment banking and commercial banking were separated. [/b] http://www.wsws.org/articles/1999/nov1999/bank-n01.shtml [/QB][/QUOTE]
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