CRA Advocates Forced end of Glass Stegal

By Entitlemented   follow   Mon, 19 Nov 2012, 2:55pm PST   ↑ Like   ↓ Dislike   567 views   1 comment   Watch (1)   Share   Quote  

Looks like Clinton, Dodd, bullied Gramm into the Glass Stegal changes in the late 1990s.

http://www.nytimes.com/1999/10/24/us/deal-on-bank-bill-was-helped-along-by-midnight-talks.html?pagewanted=all&src=pm

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Entitlemented   befriend (0)   ignore (2)   Mon, 19 Nov 2012, 2:58pm PST   Like   Dislike     Share   Quote   Comment 1

They needed this likely to allow the subprime from just the CRA loans to shift into all FHA and private label loans:

http://www.nytimes.com/1998/08/02/business/l-banks-obligations-176362.html

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