3 ms·
Congress passes laws, not the President. The repeal passed the Senate on a near party line vote (R over D), sponsored by 3 Republicans, and passed the House wi
by lonelappde 6y ago
Congress passes laws, not the President.
The repeal passed the Senate on a near party line vote (R over D), sponsored by 3 Republicans, and passed the House will nearly all R and 2/3 of D.
Clinton could have vetoed it, though, since the Senate didn't have a two-thirds majority.
https://en.m.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act https://en.m.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93...
Of course, looking to the future from the future, a veto would likely be irrelevant since Bush took over a year and a half later.
- GeekyBear 6y agoClinton did not oppose the repeal at all. He was a cheerleader for the process. Here's a snippet from his signing speech. >You heard Senator Gramm characterize this bill as a victory for freedom and free markets. And Congressman LaFalce characterized this bill as a victory for consumer protection. And both of them are right. And I have always believed that one required the other. It is true that the Glass-Steagall law is no longer appropriate for the economy in which we live. https://www.treasury.gov/press-center/press-releases/Pages/ls241.aspx https://www.treasury.gov/press-center/press-releases/Pages/l...
- arcticbull 6y ago> Congress passes laws, not the President. Indeed, what I meant to say was "under" and not "by". My bad. Too late to edit.