David Cerullo | Chicago Reader

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Re: “UIC prepares for 'highly contentious' Trump rally

Can't vote for Hillary = Wall St.
The repeal of the law separating commercial and investment banking caused the 2008 financial crisis.
In 1999, Democrats led by President Bill Clinton and Republicans led by Sen. Phil Gramm joined forces to repeal Glass-Steagall at the behest of the big banks. What happened over the next eight years was an almost exact replay of the Roaring Twenties. Once again, banks originated fraudulent loans and once again they sold them to their customers in the form of securities. The bubble peaked in 2007 and collapsed in 2008. The hard-earned knowledge of 1933 had been lost in the arrogance of 1999.

Posted by David Cerullo on 03/13/2016 at 10:27 PM

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