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- After Pushing the Wall Street Scheme to Repeal Glass-Steagall, the New York Times Returns to Puff Pieces On Rodge Cohen and Jamie Dimon
After Pushing the Wall Street Scheme to Repeal Glass-Steagall, the New York Times Returns to Puff Pieces On Rodge Cohen and Jamie Dimon
by Pam Martens and Russ Martens Wall Street on Parade
The New York Times has been able to fly below the radar in terms of its insufferable ability to muck up the financial system of the United States and then canonize its aiders and abettors with puff pieces.
It was none other than the New York Times that repeatedly used its editorial page to advocate for the repeal of the Glass-Steagall Act, which had protected the U.S. financial system from crisis for 66 years until its repeal under the Wall Street friendly Bill Clinton administration in 1999. It took only nine years after its repeal for the U.S. financial system to crash in 2008, requiring the largest public bailout in U.S. history. We’re now in banking crisis and bailout 3.0.
The 1933 Glass-Steagall Act was passed by Congress at the height of the Wall Street collapse that began with the 1929 stock market crash, the insolvency and closure of thousands of banks, followed by the Great Depression.