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
- Managing Director of the Council on Environmental Quality: Who Is Christy Goldfuss?
- Executive Director of the Office of Faith-Based and Neighborhood Partnerships: Who Is Melissa Rogers?
- Principal Deputy Director of the United States Mint: Who Is Rhett Jeppson?
- Coordinator of the Bureau of International Information Programs: Who is Macon Phillips?
- Acting Under Secretary of the Veterans Benefits Administration: Who Is Tom Murphy?