Talk of The Villages Florida - View Single Post - Does This Bother You About The Bailout Negotiations?
Thread: Does This Bother You About The Bailout Negotiations?
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Old 10-01-2008, 07:10 PM
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Originally Posted by chelsea24 View Post
But McCain is the one that has been voting and pushing for deregulation for the past 25 years! Same old, same old.
The key "degregulation" action was the Gramm-Leach-Blibey Financial Services Modernization Act of 1999. We've brought this Act up on other posts.

Sen McCain was a Not-Voted on this bill - Sen. Obama was not yet in office - Sen. Biden and Dowd voted YEA - Rep. Pelosi voted YEA and Rep. Frank voted NAY.

A Democratic President signed it into law, a veto would not have mattered as it passed both Houses of Congress with more than sufficient votes to override a veto.

So, the forces for "deregulation" include by their votes most of the Democratic and Republican leadership, with Sen. McCain and Rep. Frank going against the grain.