57 Percent of US Banks Have Disappeared, Thanks to Bill Clinton

57 Percent of US Banks Have Disappeared, Thanks to Bill Clinton

Bill Clinton was always able to pull off the “I'm just a great guy, looking out for you” persona, which wife Hillary is not nearly as good at doing. And you would think that eight years of experience with Bill and the history that it was not true would be send a clear message. But Clinton supporters, then and now, seem to completely overlook any damage done and any problems caused by either one of the Clintons. In the case of Bill, however, he started the economic ball rolling downhill, and eventually the entire nation will lay in pieces as soon as all the money printing an zero interest rates patchwork no longer works to keep us afloat, just as all of history has proven will come to pass.

Clinton repealed the Glass-Steagall Act in 1999, which for 66 years prevented banks from using insured deposits to take on the risk laden financial activities of Wall Street or to merge with those firms to do so. That helped created the environment for the collapse of Wall Street in 2008.

But Clinton also signed into law the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, which allowed bank holding companies to acquire banks anywhere in the nation, in essence setting up a much vaster opportunity for interstate banking. Then, the Commodity Futures Modernization Act of 2000 allowed trillions of dollars of OTC derivatives on Wall Street to escape regulation, with all three combining as a recipe for financial disaster.

Too big to fail set in motion, page 2:

Next Page »



Share

152 Comments

Leave a Reply

Pin It on Pinterest