10-Year Anniversary of the Bill That Led to the Current Economic Crisis
The legislation sounded innocuous enough: The Financial Modernization Act. But proponents, who included almost the entire U.S. Senate and the Clinton administration, were euphoric over the passage of the bill in November 1999 that revoked the Depression-era Glass-Steagall Act, and consequently helped lay the quicksand foundation that sunk the nation into the Great Recession less than 10 years later.
- Top Stories
- Unusual News
- Where is the Money Going?
- U.S. and the World
- Appointments and Resignations
- Latest News
- Drug Enforcement Administration Misused Money for Informants
- More Measures Needed to Slow Global Warming
- Study Finds Police Use of Body Cameras Dramatically Cuts Complaints
- Federal Government Prohibits Mandatory Arbitration in Nursing Home Contracts
- Supreme Court Takes Case That Could Affect Trademark Protection for Football Team’s Offensive Name