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  • Gramm-Leach-Bliley

    The Glass-Steagall Myth

    It has become an article of faith on the left that the 1999 Gramm-Leach-Bliley Act is to blame for the current crisis on Wall Street. Typical of the herd, George Polk Award winner Josh Marshall writes at Talking Points Memo: Let me get this straight. John McCain’s top economic advisor, former Sen. Phil Gramm, is the guy who authored the deregulation law that most agree is the ultimate cause of today’s financial meltdown. Click through if you wish, but do not expect any evidence to support the claim that “most … More