Democratic (socialist/fascist) de facto President Clinton, Esq., signs the Gramm-Leach-Bliley Financial Services Modernization Act, expanding the requirements of the Community Reinvestment Act to include investment banks (which take greater risks) as well as commercial banks (which are more cautious in their lending).  Being subject to CRA regulations IBs will not have to lend to riskier mortgage borrows than they otherwise would in a free-market.

       NOTES:

• While the editors see the repeal of Glass-Steagall as a step in the correct, they also see continued regulation of other aspects of finance as counterproductive and distorting.
• As an attorney (Officer of the Court) Clinton was ineligible to serve in two branches of government at the same time, according to Article I, Section 6 [Clause 2].

       [added 5/10/2023] Thanks to Chuck McGlawn for this entry.