The Glass Steagall Act President Roosevelt signed into law was repealed. See who swept aside the banking firewall protections on the 12th of November 1999.
The Gramm-Leach-Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, is an act of the 106th United States Congress (1999-2001), signed into law by President Clinton which repealed part of the Glass-Steagall Act of 1933, opening up the market among banking companies, securities companies and insurance companies. The Glass-Steagall Act prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and/or an insurance company.
The Gramm-Leach-Bliley Act allowed commercial banks, investment banks, securities firms and insurance companies to consolidate.
http://www.govtrack.us/congress/vote.xpd?vote=s1999-105
http://www.govtrack.us/congress/vote.xpd?vote=h1999-570
http://www.nytimes.com/1999/11/13/business/clinton-signs-legislation-overhauling-banking-laws.html?scp=42&sq=clinton+glass+steagall&st=nyt
http://www.nytimes.com/1999/11/13/business/business-digest-421880.html?scp=41&sq=clinton+glass+steagall&st=nyt
http://www.nytimes.com/1999/10/27/business/former-treasury-secretary-joins-leadership-triangle-at-citigroup.html?scp=39&sq=clinton+glass+steagall&st=nyt
http://www.nytimes.com/1999/10/24/us/deal-on-bank-bill-was-helped-along-by-midnight-talks.html?scp=38&sq=clinton+glass+steagall&st=nyt
http://www.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877322,00.html
http://www.time.com/time/magazine/article/0,9171,992468,00.html
http://www.time.com/time/nation/article/0,8599,3187,00.html
http://www.c-spanarchives.org/congress/?q=node/77531&id=8716717
http://www.jameslavin.com/articles/2009/06/30/sen-dodd-after-destroying-bank-regulations-i-welcome-this-day-as-a-day-of-success-and-triumph/
http://en.wikipedia.org/wiki/File:Gramm-Leach-Bliley_Vote_1999.png
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