Quote:
Originally Posted by justplugit
Source ,and what cronies joined the fray.  |
The
Gramm-Leach-Bliley Act, also known as the
Gramm-Leach-Bliley Financial Services Modernization Act,
Pub.L. 106-102, 113
Stat. 1338, enacted
1999-
11-12, is an
Act of the
United States Congress which repealed part of the
Glass-Steagall Act, opening up competition among
banks,
securities companies and
insurance companies. The
Glass-Steagall Act prohibited a bank from offering
investment,
commercial banking, and
insurance services.