How Deregulation Led to the Current Bank Collapse

Charleston City Paper | October 9, 2008
In 2000, Sen. Phil Gramm attached a rider to an appropriations bill to deregulate derivatives trading and other complicated financial instruments like collateral debt obligations. This was the effective nail in the coffin for the FDR-era Glass-Steagall Act, which was created to prevent a repeat of the crash of 1929.

Charleston City Paper

Founded in 1997, the locally owned and operated City Paper is Charleston's only weekly alternative newspaper and the second-largest publication in the metro Charleston area. Reaching a strong mix of active, affluent locals and tourists, the City Paper has thrived...
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