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Turning the “land of opportunity” into a “land of serfdom”
- LatteLazy 5y agoStarting with such an egregious error as "bill Clinton legalised interstate banking" doesn't bode well...
- eternalban 5y ago"An agreement between the Clinton administration and congressional Republicans, reached during all-night negotiations which concluded in the early hours of October 22, sets the stage for passage of the most sweeping banking deregulation bill in American history, lifting virtually all restraints on the operation of the giant monopolies which dominate the financial system." ... [On lifting regulations affecting interstate banking (and note Bill Clinton's first term began on Jan 1993):] "While Democratic and Republican congressmen and industry lobbyists claimed that deregulation would spark competition and improve services to consumers, the same claims have proven bogus in the case of telecommunications, airlines and other industries freed from federal regulations. Consumer groups noted that since the passage of a 1994 banking deregulation bill which permitted bank holding companies to operate in more than one state, both checking fees and ATM fees have risen sharply." source: https://www.wsws.org/en/articles/1999/11/bank-n01.html https://www.wsws.org/en/articles/1999/11/bank-n01.html - So that motivates a simple search for "1994 banking deregulation bill" and voila [there are 11 instances of "interstate" in that article]: https://en.wikipedia.org/wiki/Riegle-Neal_Interstate_Banking_and_Branching_Efficiency_Act_of_1994 https://en.wikipedia.org/wiki/Riegle-Neal_Interstate_Banking...
- LatteLazy 5y agoYeah, there were plenty of financial regs passed, repealed and amended during the Clinton presidency. But at no point was interstate banking illegal!? And that's without getting into it being Congress that passes laws not presidents...