"CONGRESS PASSES WIDE-RANGING BILL EASING BANK LAWS" -- c. 1999

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bparker321's picture
bparker321
Status: Member (Offline)
Joined: Oct 7 2008
Posts: 4
"CONGRESS PASSES WIDE-RANGING BILL EASING BANK LAWS" -- c. 1999

Here's an article from Nov. 1999 from the NYT covering what I would call a watershed moment in this crisis:

http://www.nytimes.com/1999/11/05/business/congress-passes-wide-ranging-bill-easing-bank-laws.html

I think it's a nice complement to SamLinder's post a few mins ago.  My favorite quote from the article from Sen. Byron Dorgon -- ''I think we will look back in 10 years' time and say we should not
have done this but we did because we forgot the lessons of the past,
and that that which is true in the 1930's is true in 2010"

 

SamLinder's picture
SamLinder
Status: Diamond Member (Offline)
Joined: Jul 10 2008
Posts: 1499
Re: "CONGRESS PASSES WIDE-RANGING BILL EASING BANK LAWS" -- ...

bparker321,

Good post. You're right it is "a nice complement" to my other post. How frustrating that the handwriting was on the wall so many years ago but greed overrode common sense (as usual)!  Arrrggghhh!  Yell

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