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Political Factoid
The Gramm-Leach-Bliley Act (GLB),
also known as the Financial
Services Modernization Act of 1999,
was a pact with the Devil.
- Co-sponsored by Sen. Gramm (R-TX),
Rep. Leach (R-IA), and Rep. Bliley (R-VA)
- Allowed commercial banks, investment banks,
securities firms, and insurance companies to
consolidate, co-habitat, and cross-contaminate.
cf.
ccc,
2443
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