So Proudly We Hail! - the Best of UseNet Political Postings! :: View topic - Economic Warnings Ignored on Mistake or Purpose?

Byron Dorgan · Guest

http://www.youtube.com/watch?v=5QkTd9ivtME
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.


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