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Newt Gingrich joins the list of GOP politicians banging the drum to break up the big banks,...

Newt Gingrich joins the list of GOP politicians banging the drum to break up the big banks, saying he supports "very decisive reforms" in the industry. He plays the Glass-Steagall card in a populist move that appears to be slated by the Repubs as a general election topic: "We should probably reestablish dividing up the big banks into a banking function and an investment function and separating them out again."
Comments (6)
  • Newt is correct that, 'We should probably reestablish dividing up the big banks into a banking function and an investment function and separating them out again.'

     

    Of course, the big banks will whine about it just like the gas companies did when they were broken up a century ago. They did just fine. The banks will be just fine, too.
    14 Nov 2011, 12:15 PM Reply Like
  • This is quite a sensible idea.

     

    I hope he and others plan to follow through on it and are not just using the issue to embarrass dems leading up the the 2012 election.

     

    D
    14 Nov 2011, 12:18 PM Reply Like
  • the GOP may slowly be meandering its way back into relevancy....
    14 Nov 2011, 12:38 PM Reply Like
  • breaking up banks will cause layoffs, high taxes, fewer loans, depression and war (or so they banks will fear monger on the public).
    14 Nov 2011, 01:11 PM Reply Like
  • I wonder why he didn't think about this when he and the '94 Republicans were pressuring Clinton to undo Glass-Steagall back then? Now that the damage is done, he pretends to get the message. This tells us a lot about Gingrich, who tends towards rash statements and positions that more thoughtful people would not stake out in the heat of politics.

     

    I think he is a smart man, but his intelligence is bested by his rash behavior which I perceive results from personal ambition.

     

    Not a good choice for President.
    14 Nov 2011, 01:42 PM Reply Like
  • When banks loan money to people with high risk then there a concern for them to regain their losses. There is a problem with outflow and inflow of money in banks. When there is an outflow then there is an alarm to try to get their money back at all cost using police, IRS, or any investigation to what happen to their loans.. Sadly the public must pay for their losses thru courts and destroys even the one who saves their money.
    17 Nov 2011, 10:40 AM Reply Like
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