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April 22, 2014

Clinton docs: Gramm-Leach-Bliley revisited

“The debate over the decision to tear down the wall between commercial and investment banking in 1999 is an issue that still rages today as the financial industry and Wall Street critics spar over whether “too big to fail” banks remain.

“On Friday, some potential kindling was added to the fire with the release of documents from the late 1990s by Bill Clinton’s presidential library.

“The documents do not appear to contain any “wowza!” revelations, but the detailed memos to Clinton and various emails between White House and Treasury Department aides help illuminate the debate and highlight the points of tension along the way.

“The release also includes documents regarding the debate over former Commodity Futures Trading Commission Chair Brooksley Born’s attempt to review rules for an unregulated derivatives market.”

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Read full POLITICO Pro article here.

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