Clinton also completed Reagan’s deregulation of the financial sector, allowing the banking industry to become bigger and more globalized than ever. He signed the law that repealed the Glass-Steagall Act, which had walled off commercial banking from investment banking since 1933. For the key post of Federal Reserve chair, Clinton twice renominated Reagan appointee and fellow neoliberal crusader Alan Greenspan, whose command over U.S. monetary policy thus stretched into a second decade.
