Changes

'''TOP NEGOTIATOR OF GLASS-STEAGALL REPEAL'''

Sperling also served as a principal negotiator with then-Treasury Secretary Lawrence Summers in finalizing the Financial Modernization Act of 1999, also known as Gramm-Leach-Bliley Act. Gramm-Leach-Bliley repealed large portions of the depression-era Glass-Steegal Act allowing banks, securities firms and insurance companies to merge. <ref>National Economic Council [http://clinton4.nara.gov/WH/EOP/nec/html/sperling.html Profile of Gene Sperling]</ref>

'''TOP NEGOTIATOR OF CHINA-WTO TRADE DEAL'''

Together with United States Trade Representative Charlene Barshefsky, Mr. Sperling successfully negotiated and concluded the China-WTO agreement in Beijing in 1999, paving the way for China to enter the World Trade Organization in 2001. <ref>National Economic Council [ http://clinton4.nara.gov/WH/EOP/nec/html/sperling.html Profile of Gene Sperling]</ref> The Economic Policy Institute estimates that 2.4 million U.S. jobs have been lost to China since 2001.<ref>[http://www.americanmanufacturing.org/china-job-loss Unfair China Trade Costs Local Jobs], Economic Policy Institute, March 2010. </ref>

According to Bloomberg News, Sperling earned $887,727 from Goldman Sachs in 2008 and $158,000 for speeches mostly to financial companies, including the firm run by accused Ponzi scheme mastermind R. Allen Stanford. <ref>Bloomberg News, [http://www.bloomberg.com/apps/news?pid=newsarchive&sid=abo3Zo0ifzJg Geithner Aides Reaped Millions Working for Banks, Hedge Funds,] October 14, 2009.</ref>

[[Category:Politics (U.S.)]][[category:economics]]