99 Percenters -- Writers' / Leaders' Site

The Financial Services Modernization Act of 1999, also known as the Gramm-Leach-Bliley Act , was the single piece of legislation sponsored by Republicans, and signed by Democratic President Bill Clinton, which brought about the repeal of the Glass-Steagall Act and deregulation, or what could, and should be seen as lawlessness in the financial services sector ultimately ending in the Second Great Depression costing millions of American jobs, home foreclosures, and trillions of dollars in taxpayer bail outs.