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To: Cactus Jack who wrote (204022)	5/24/2009 7:03:12 AM
From: saveslivesbyday	Read Replies (1) \| Respond to of 306849

The Gramm-Leach-Bliley Act (that repealed Glass-Steagall) was also hugely popular - 90% of lawmakers voted for it It wasn't "pushed through" either - though in retrospect the motives of the banking industry with this legislation are clear As are the unintended consequences of Citi, BAC, and the WS Brokerages selling MBS and CDO's. That's the point I was making, that some legislation looks better on the surface than in reality, not that it wasn't popular among voters at the time.

To: Cactus Jack who wrote (204022)	5/24/2009 11:41:32 AM
From: bentway	Read Replies (1) \| Respond to of 306849

"it was voted into law through a voter initiative by a wide margin -- 65% in favor." The initiative process is why CA is such a cluster-f*ck basket case today. The voters have demanded services and refuse to pay for them. Obviously unsustainable.