Clinton Says Don't Blame Him for the Economic Crisis, page 1
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reply posted on 16-2-2009 @ 09:02 PM by Keyhole
Well, he's wrong!

Part of the problems we are having with the economy, especially the housing crisis, was due to legislation that was implemented on HIS watch!!!

Economists: Gramm To Blame For The Current Crisis

In 1999, Congress passed the Gramm-Leach-Bliley Act, which abolished “all of the significant rules put in place at the time of the Great Depression designed to prevent a repeat.” Specifically, this act “destroyed the Depression-era barrier to the merger of stockbrokers, banks and insurance companies.”



This WONDER of a piece of legislation was passed while Clinton was "the boss"!

I don't remember, and have NEVER seen any kind of news article or anything that ever sais that Bill Clinton opposed this "ACT"!

He might not want to TAKE the "blame" for our current economic crisis, but part of its roots go back to when he was president.


reply posted on 17-2-2009 @ 08:39 PM by Irish M1ck
reply to post by Keyhole


You know that was a completely republican-backed bill right? Clinton just signed it into office after the republicans were able to get democrats to sign on.

I agree, that puts some blame into his hands, but it was a republican pushed bill.


reply posted on 17-2-2009 @ 08:51 PM by jam321
reply to post by Irish M1ck


The vote don't seem like a republican backed bill.

On November 4, the final bill resolving the differences was passed by the Senate 90-8 [6] and by the House 362-57.[7] This legislation was signed into law by Democratic President Bill Clinton on November 12, 1999


en.wikipedia.org...


Bill Clinton words when he signed the bill.

FLASHBACK: President Clinton In 1999: “The Gramm-Leach-Bliley Act makes the most important legislative changes to the structure of the U.S. financial system since the 1930s. … The Gramm-Leach-Bliley Act is a major achievement that will benefit American consumers, communities, and businesses of all sizes. I thank all of those individuals who played a role in the development and passage of this historic legislation.” (President Bill Clinton, Statement On The Signing Of The Gramm-Leach-Bliley Act Into Law, 11/12/99)


www.rpof.org...

At least he got the part about the businesses correct. They are about the only ones who have benefited.


Plenty of blame to go around for lots of people.


reply posted on 17-2-2009 @ 09:20 PM by Irish M1ck
reply to post by jam321


In your own link, you skipped a ton of stuff:

The bills were introduced in the U.S. Senate by Phil Gramm (R-Texas) and in the U.S. House of Representatives by Jim Leach (R-Iowa). The third lawmaker associated with the bill was Rep. Thomas J. Bliley, Jr. (R-Virginia), Chairman of the House Commerce Committee from 1995 to 2001. On May 6, 1999, the Senate passed the bills by a 54-44 vote along party lines (53 Republicans and one Democrat in favor; 44 Democrats opposed).[2] On July 20, the House passed a different version of the bill on an uncontested and uncounted voice vote.


My guess, the republicans added some pork to appease the democrats, and they agreed to sign the bill. I don't know, I haven't really examined the history of that bill, I just examined the voting history and the contents of it.

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