Byron Dorgan on the 1999 Financial Modernization Act

Thursday, October 02, 2008 | 12:30 AM

In 1999 Congress passed the Financial Modernization Act, which allowed banks, insurance companies and investment houses to merge. Many experts point to it as one of the causes of our current financial crisis. At the time, Byron Dorgan was one of the few senators to speak out strongly against the legislation. Looking back, his predictions in 1999 seem prophetic and, looking forward, his views raise more questions about the $700 billion bailout plan.

Video after the jump

 

Source:
Byron Dorgan’s Crystal Ball
Lagan Sebert
American News Project, Oct 01, 2008
http://americannewsproject.com/node/135

American News Project
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Washington, D.C. 20036
Phone: (202) 955-6460
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Thursday, October 02, 2008 | 12:30 AM | Permalink | Comments (27) | TrackBack (1)
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Listed below are links to weblogs that reference Byron Dorgan on the 1999 Financial Modernization Act:

» Byron Dorgan: El hombre que predijo la crisis dice que el rescate es un error from meneame.net
En 1999 el congreso americano aprobo el plan de modernizacion financiera que permitia a bancos, aseguradoras y casas de inversion a fusionarse - algo que los expertos consideran una de las raices de la actual crisis. Byron Dorgan fue uno de los pocos s... [Read More]

Tracked on Oct 2, 2008 4:33:37 AM

Comments

What we learn from history is that we don't learn from history.

Posted by: Ricky in Columbus | Oct 2, 2008 12:48:56 AM

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