Posted 2 years ago on March 17, 2012, 7:38 p.m. EST by richardkentgates
from Fort Walton Beach, FL
This content is user submitted and not an official statement
This weekend on an encore episode of Moyers & Company, Bill talks with former Citigroup Chairman John Reed and former Senator Byron Dorgan to explore a momentous instance: how the mid-90s merger of Citicorp and Travelers Group — and a friendly presidential pen — brought down the Glass-Steagall Act, a crucial firewall between banks and investment firms which had protected consumers from financial calamity since the aftermath of the Great Depression. In effect, says Moyers, they put the watchdog to sleep.