Glass-Steagall

Robert Rubin Joins Citigroup for $126 Million After Engineering Glass-Steagall Repeal

1999-10-26 00:00:00 +0000 UTC | Importance: 9/10

Robert Rubin joins Citigroup just four months after leaving his position as Treasury Secretary, shortly after the November 1999 passage of the Gramm-Leach-Bliley Act that repealed Glass-Steagall. Rubin’s move to Citigroup - the principal beneficiary of Glass-Steagall repeal - represents one of …

Robert Rubin Citigroup Sandy Weill Goldman Sachs Treasury Department revolving-door citigroup glass-steagall corruption regulatory-capture +2 more

Time Magazine Celebrates "Committee to Save the World" While They Block Derivatives Regulation

1999-02-15 00:00:00 +0000 UTC | Importance: 8/10

Time Magazine publishes its February 15, 1999 edition featuring Treasury Secretary Robert Rubin, Deputy Secretary Lawrence Summers, and Federal Reserve Chairman Alan Greenspan on the cover as “The Committee to Save the World,” celebrating their management of the 1997-1998 Asian and …

Robert Rubin Lawrence Summers Alan Greenspan Time Magazine Brooksley Born derivatives deregulation financial-crisis media-propaganda regulatory-capture +2 more

NationsBank-BankAmerica $62 Billion Merger Creates First Coast-to-Coast National Bank

1998-09-30 00:00:00 +0000 UTC | Importance: 7/10

NationsBank completes its $62 billion acquisition of BankAmerica Corporation, creating the first truly coast-to-coast national bank in U.S. history and taking the Bank of America name. The merger occurs just one year before the formal repeal of Glass-Steagall, demonstrating how banking consolidation …

NationsBank BankAmerica Federal Reserve Department of Justice Hugh McColl banking-consolidation mergers glass-steagall deregulation market-concentration +1 more

Financial Industry Spends $300 Million on Deregulation Lobbying and Campaign Contributions

1997-01-01 00:00:00 +0000 UTC | Importance: 8/10

In 1997 and 1998, the banking, insurance, and securities industries spend over $300 million to advance financial deregulation, including $58 million in direct campaign contributions to Democratic and Republican candidates, $87 million in soft money contributions to both parties, and $163 million on …

Banking Industry Insurance Industry Securities Industry Democratic Party Republican Party +1 more campaign-finance lobbying financial-deregulation glass-steagall corruption +2 more

Banking Industry Launches Systematic Campaign to Erode Glass-Steagall Act

1980-01-01 00:00:00 +0000 UTC | Importance: 9/10

Large commercial banks launch a coordinated, multi-pronged campaign to systematically dismantle the Glass-Steagall Act’s financial regulations. This strategic effort involves regulatory capture through administrative reinterpretations, academic influence to discredit Depression-era banking …

Major commercial banks Banking lobbyists Federal regulators Academic economists Federal Reserve Board +1 more glass-steagall banking-deregulation regulatory-capture financial-lobbying new-deal-reforms +2 more