Topic: Graham Leach Bliley Act

Gene Sperling has been named the new head of the National Economic Council, returning to a role he held during the Clinton administration. Sperling was a key negotiator for the 1999 Graham-Leach-Bliley Act, which repealed portions of the Glass-Steagall Act and allowed for the merger of commercial banks and insurance firms. The hosts criticize the appointment, noting that an architect of the policies leading to the 2008 financial crisis is now leading the recovery efforts.