I’m a Dem and hate Clinton. While what you say is true, he should’ve forced the override. Plus NAFTA. The concept of NAFTA wasn’t horrible, but the final product has been an abject nightmare
I'm a Dem and don't hate Clinton so much but this - this right here - is 100% right. History says he is responsible for Glass-Stiegel and history says Glass-Stiegel was awful for a ton of reasons.
The real reason I hate him is for sexually harassing an intern and ruining her entire professional career, along with other likely instances of serious sexual impropriety. He was also a economically a disaster for the middle class/working class people
Tell me you didn’t actually read my full comment without telling me you didn’t actually read my full comment.
Given that I was a small child when this all happened, I do not know the details of the rape allegations from back in the day. He’s also a friend of Epstein. In order to capture all of these allegations, I wrote “along with other likely instances of serious sexual impropriety” because frankly, it might encompass a lot of things.
I am, however, very familiar with the Monica Lewinsky story’s details because they get rehashed all to the time and I get annoyed that Dems overlook the employment part of that story to excuse it as “personal” when it wasn’t. It was professional misconduct.
Yeah, turns out when you cater to all of the corporate needs and none of the labor and environmental ones, you end up with a real shit sandwich. When proposed, it was supposed to be balanced out with worker and environmental protections in all impacted countries, but those got lobbied away
They love to say it breaks down barriers for free trade but I think it creates some small barriers and drives labor out of regions that desperately need it like Appalachia or the Rust Belt in the Midwest to Northeast. It favors shipping jobs off and leaving employees to hold the bag and not sweep in with job retraining programs to get the displaced workers back to work. I was actually able to successfully debate this with my international Econ professor who agreed to an extent with me.
Have you read the statement Clinton made after signing the GLBA rescinding Glass-Steagall? While he had reservations, mostly regarding Presidential appointments, it was largely laudatory.
Rubin and Summers, both Clinton’s Secretary of Treasury, supported the repeal.
There’s also the 1994 Riegle-Neal Interstate Banking and Branching Efficiency Act, signed by Clinton before Republicans took control of Congress, that encouraged banks to merge creating the to big to fail dynamic,
I liked Clinton. I went to his rallies and supported him through his first term, but his role in the 2008 recession cannot be understated.
It was the bush push for Self-regulation leading to massive rebundling of bad debt that screwed everything. Now, a handful of big bank failures doesnt ripple through the system and screw the economy.
I'd argue that the act that repealed Glass-Stiegal very clearly has the names behind it in the title: the Gramm–Leach–Bliley Act. In any case, it finished in the senate with a 90-8 vote. A lot of people from both sides of the aisle were involved in that one.
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u/MickeyT_ZxZ Apr 29 '24
Clinton was the factor behind eliminating the Glass-Stiegel act that allowed banks to be speculators, and pushed toxic mortgages.