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Split Up The Banks! Restore Glass-Steagall


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Split Up The Banks! Restore Glass-Steagall

Dave Zweifel

Ten years ago, the Republican-controlled Congress - egged on bythat champion deregulator, former Texas Sen. Phil Gramm - passedlegislation that arguably did more to plunge the United States intoour crippling great recession than anything else: It repealed theGreat Depression era's Glass-Steagall Act.

Then on Nov. 12, 1999, an acquiescent Democratic president, BillClinton, signed the repeal into law.