Post #24647 by AlphaWolf on the US Policy board

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How'd that work out for everybody?

You might be surprised to know that the Graham-Leach-Bliley Act was sponsored by Sen. Phil Gramm (R, Texas), Rep. Jim Leach (R, Iowa), and Rep. Thomas J. Bliley, Jr. (R, Virginia).

Hint: the R stands for Republican.

I’m sure you recall that House of Representatives, Rep. John Dingell (D, Michigan) argued that the bill would result in banks becoming "too big to fail” AND that this would necessarily result in a bailout by the Federal Government.

So yes, how did that Republican plan work out for everybody?

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