For legalizing deregulation.
Remember that dick, Dick Fuld, from RIFE No029, and the douche bags from №067? Without the guy you’re about to read about, none of them would have been able to screw up our lives. Phil Gramm served as chairman of the Senate Banking Committee in the late nineties. He was a proponent of financial deregulation. He wrote and pushed through Congress the Gramm-Leach-Bliley Act, which effectively repealed much of the Glass-Steagall Act. The Glass-Steagall Act was enacted as a result of the Great Depression. It separated commercial banks from Wall Street to prevent lending, use of credit, and investing by the same entity. Sort of a checks and balances for Wall Street. That all went to shit when Gramm added a provision to the Commodity Futures Modernization Act of 2000 that kept credit-default swaps exempt from government regulation. These acts of deregulation have crippled America and are major factors in the 2008-2009 banking and economic crisis.
Your deregulation ruined it for everyone. You supplied a springboard for the greediest professions to commit fraud and make stupid mistakes. You took down the world’s economy. You owe America AT LEAST a couple trillion. So break out your checkbook, you ass hat. And, it better be FDIC-insured.