Phil Gramm

Clinton Signs Commodity Futures Modernization Act, Cementing Derivatives Deregulation

2000-12-21 00:00:00 +0000 UTC | Importance: 10/10

President Bill Clinton signed the Commodity Futures Modernization Act (CFMA) into law on his last day before Christmas recess, completing the deregulation of the derivatives market that Brooksley Born had warned against two years earlier. The legislation, inserted into a 10,000-page authorization …

Bill Clinton Lawrence Summers Phil Gramm Alan Greenspan Wall Street derivatives dealers derivatives deregulation cfma financial-crisis credit-default-swaps +1 more

Phil Gramm Inserts 262-Page CFMA into 11,000-Page Spending Bill Hours Before Christmas Recess

2000-12-15 00:00:00 +0000 UTC | Importance: 9/10

In the early evening of Friday, December 15, 2000, with Christmas recess only hours away and the presidential election still unresolved, the U.S. Senate rushes to pass an essential 11,000-page government reauthorization bill. Senator Phil Gramm of Texas inserts a complex 262-page amendment - the …

Phil Gramm U.S. Senate U.S. House of Representatives Bill Clinton Enron Corporation derivatives cfma legislative-corruption enron-loophole lame-duck +2 more

Gramm-Leach-Bliley Act Repeals Glass-Steagall, Enables 2008 Crisis

1999-11-12 00:00:00 +0000 UTC | Importance: 10/10

President Bill Clinton signs the Gramm-Leach-Bliley Act (Financial Services Modernization Act) into law on November 12, 1999, repealing key provisions of the Glass-Steagall Act of 1933 that separated commercial banking from investment banking and insurance. The Senate passes the final bill 90-8 on …

Phil Gramm Jim Leach Thomas J. Bliley Jr. Bill Clinton Robert Rubin +4 more deregulation regulatory-capture neoliberalism banking-deregulation financial-crisis-precursor +3 more

Citigroup Merger Violates Glass-Steagall, Forces Deregulation

1998-04-06 00:00:00 +0000 UTC | Importance: 10/10

Citicorp CEO John Reed and Travelers Group CEO Sanford Weill announce on April 6, 1998, the merger of their companies to form Citigroup, a $140 billion conglomerate combining banking, securities, and insurance services under brands including Citibank, Smith Barney, Primerica, and Travelers. The …

Sanford Weill John Reed Citicorp Travelers Group Federal Reserve +3 more deregulation regulatory-capture neoliberalism banking-deregulation corporate-power +2 more

CFTC Chair Wendy Gramm Exempts Enron from Derivatives Regulation, Joins Board Five Weeks Later

1993-01-14 00:00:00 +0000 UTC | Importance: 9/10

On her final day as Chair of the Commodity Futures Trading Commission, Wendy Gramm approves a regulatory exemption allowing Enron to trade energy derivatives without CFTC oversight. The exemption, granted on January 14, 1993 (some sources cite January 21, the final day of the George H.W. Bush …

Wendy Gramm Phil Gramm Enron Corporation CFTC Commodity Futures Trading Commission Kenneth Lay derivatives corruption revolving-door enron energy-trading +3 more