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==Controveries==
[[Image:Sperling_and_Summers.png|thumb|left|Sperling Standing Behind behind Summers in Foregroundforeground]]
===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 Gramm-Leach-Bliley repealed large portions of the depression-era Glass-Steegal Act allowing banks, securities firms and insurance companies to merge.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>
===Payments from Financial Firms===
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>Robert Schmidt, "Geithner Aides Reaped Millions Working for Banks, Hedge Funds," Bloomberg News (Oct. 14, 2009), available via http://www.bloomberg.com/apps/news?pid=newsarchive&sid=abo3Zo0ifzJg </ref> His prior income for the period between 2001 and 2007 is not publicly available.
==Background==