Where are they now, the 8 that voted against the repeal of Glass-Steagall??
While there are many threads to the torn fabric that led to the implosion of our banking system and the stock market collapse, one of the major reasons was the repeal of the Glass-Steagall regulations with the passage of the 1999 bill called the Gramm-Leach-Bliley bill.
There was plenty of debate about this bill inside Congress and even more debate outside the hallowed halls. But in the end, only eight of our senators voted against Gramm-Leach-Bliley:
* The esteemed Sen. Barbara Boxer of California.
* Nevada's Sen. Richard Bryan.
* Sen. Byron Dorgan of North Dakota.
* Wisconsin's renegade 'progressive patriot', Sen. Russ Feingold.
* Iowa's onetime candidate for president, Sen. Tom Harkin.
* Sen. Barbara Mikulski of Maryland.
* The lone Republican, Sen. Richard Shelby of Alabama.
* The late Paul Wellstone of Minnesota.
While they have had the satisfaction of being right, they were not called upon to serve in the new Democratic administration. Why is that?
By contrast, one of those who was most vocal and passionate about supporting the Gramm bill was Lawrence Summers, onetime Treasury Secretary under Bill Clinton. He said upon passage of the bill: "Today Congress voted to update the rules that have governed financial services since the Great Depression and replace them with a system for the 21st century. This historic legislation will better enable American companies to compete in the new economy."
Good thing that guy Summers does not dare show his face around anymore. Wait, no, isn't he the new director of the White House National Economic Council. I wonder how he got that job, and what is on his agenda nowadays.
You would think that with all those promises of change, that the prescient senators would have been rewarded for their common sense and financial sagacity with nice new jobs with the Obama administration. Not yet, anyway.