Posted 4 years ago on March 16, 2012, 6:40 p.m. EST by SparkyJP
from Westminster, MD
This content is user submitted and not an official statement
Bill Moyers 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.. Provides transparency as to how we got into this mess.