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From 1999 - Banks will say "We're gonna stick it to you"

submitted by Tymbrwulf

1 decade 2 years 6 months ago

n a speech on the Floor of the House of Representatives in 1999, Congressman Dingell warns against repealing the Glass-Steagall Act of 1933. He argues that repealing the law would allow banks to become "too big to fail," which would cause instability in financial system. Nonetheless, Congress repealed the law and the nation suffered the tragic consequences of the 2008 financial crisis about a decade later.