Special thanks to Gramm-Leach-Bliley, the 1999 law Clinton signed repealing the Depression-era Glass-Steagall Act that benefited the banks allowing them to gamble with their depositors‘ money that was held in affiliated commercial banks.
Result- One of the most damaging laws ever enacted.
NY POST-
Bill Clinton’s Democratic Convention speech tonight will no doubt be loaded with references to his great economic achievements as president, plus warnings that a vote for Mitt Romney will be a vote to return to the economic disaster of the Bush era.
In other words, Clinton won’t mention a whole bunch of inconvenient facts — about what brought the prosperity of the 1990s, and how he himself helped put America on the path to the 2008 financial crisis.
He’ll tell us that a vote for President Obama will bring back the glory days of the 1990s — but those days weren’t so great until Republicans won control of Congress in the 1994 elections. That’s when Clinton turned right, and joined the GOP to put a hold on spending and lower taxes — allowing the technology boom to sustain the US economy through the Clinton years.