New York Times warns that new financial rules could “wreak havoc” — 1999

Boing Boing blog New York Times warns that new financial rules could “wreak havoc” — 1999 From the 11/5/99 New York Times: “CONGRESS PASSES WIDE-RANGING BILL EASING BANK LAWS By STEPHEN LABATON”: ”Today Congress voted to update the rules that have governed financial services since the Great Depression and replace them with a system for the 21st century,” Treasury Secretary Lawrence H. Summers said. ”This historic legislation will better enable American companies to compete in the new economy.” The decision to repeal the Glass-Steagall Act of 1933 provoked dire warnings from a handful of dissenters that the deregulation of Wall Street would someday wreak havoc on the nation’s financial system CONGRESS PASSES WIDE-RANGING BILL EASING BANK LAWS (11/5/99) …………………………………………………… http://feedproxy.google.com/~r/boingboing/iBag/~3/zFmxAgB8xHw/new-york-times-warns.html

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