![]() ![]() Yet something else in this decade needs further reflection-that is, the financialization of daily life, a far more ephemeral thing to couch within these two congressional bills.įor many, this neoliberal triumphalism is directly tied not just to the deregulation of markets in media and finance but also to the deregulation of the human capacity to resist or comprehend these market forces on culture. It is no coincidence that this unprecedented expansion of the financial and media industries marked a new logic in the development of capitalist life in the 1990s. In close succession was the 1996 Telecommunications Act, which dissolved the legal barriers that once had separated media industries and ushered in the right for multinational conglomerates to own and vertically integrate television, news, and film companies. ![]() President Bill Clinton's advocacy to repeal the Glass-Steagall Act (1936) and replace it with the Gramm-Leach Bliley Act in 1995 was greeted with near unanimous support by both the Washington political establishment and Wall Street, each seeking further deregulation after the Reagan era. ![]() A GREAT MARKET EUPHORIA SWEPT THROUGH the United States by the 1990s, with two deregulatory bills signposting a neoliberal triumphalism.
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