Chicago Wednesday AM January 6, 2010
Editors, The Wall Street Journal
Gentlepeople:
Wall Street Journal columnist Thomas Frank complains in his Tuesday, January 5 column “Watch Out for GOP Populism” of Wisconsin Representative Paul Ryan fondly recalling “the great deregulatory campaigns of the past (leaving out the embarrassing story of how he and his colleagues overturned Glass-Steagall and then watched the banking industry explode in a fireball of freedom).”
Mr. Frank does a little 'leaving out' of his own, ignoring the Thursday, Nov 15, 1999 Wall Street Journal article ”Clinton Signs Financial-Services Bill, But Cautions About Privacy Shortfalls” in which the President glowingly describes the financial-services overhaul as "truly historic."
If the bill would cause the banking industry to “explode in a fireball of freedom” why wouldn't an all-knowing Democrat President veto it? It had a substantial veto-proof majority in the House, but a comfortable veto-sustaining 44 votes in the Senate.
Arnold H Nelson 5056 North Marine Drive Chicago IL 60640 ah_nelson@yahoo.com
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