<p>[Bill</a> v. Barack on Banks - WSJ.com](<a href=“http://online.wsj.com/article/SB122282635048992995.html?mod=todays_us_opinion]Bill”>http://online.wsj.com/article/SB122282635048992995.html?mod=todays_us_opinion)</p>
<p>Please. The only people pointing to Glass-Steagall as the cause of our crisis are the desperate. Everyone’s pointing to the subprime mortgages, an idea Obama liked. An idea that was supported relentless by Freddie/Fannie without any kind of sound financial banking, an idea Bush tried to rein in but the Democrats, flush in their money, didn’t do diddly squat.</p>
<p>The Gramm-Leach-Bliley Act passed the Senate on a 90-8 vote, including 38 Democrats and such notable Obama supporters as Chuck Schumer, John Kerry, Chris Dodd, John Edwards, Dick Durbin, Tom Daschle – oh, and Joe Biden.</p>
<pre><code>Chris Cuomo, ABC News: A little surprising for you to hear the Democrats saying, “This came out of nowhere, this is all about the Republicans. We had nothing to do with this.” Nancy Pelosi saying it. She signed the '99 Gramm Bill. She knew what was going on with the SEC. They’re all sophisticated people. Is that playing politics in this situation?
Bill Clinton: Well, maybe everybody does that a little bit. I think the responsibility the Democrats have may rest more in resisting any efforts by Republicans in the Congress or by me when I was President to put some standards and tighten up a little on Fannie Mae and Freddie Mac.
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<p>It’s not just a coincidence that Bill’s reply to the financial crisis goes directly to Fannie/Freddie.</p>