Glass-Steagall: If Not the Cause, Maybe the Cure? [View article]
Before any final action is taken on bringing the Glass-Steagall Act back on board, review the reasons it was repealled. If I remember correctly the nature of business and finance had changed to a more global climate and the U.S. firms were being overrun by foreign companies. To reinstall a previous program before doing this just might result in unintended consequences. Also, its repeal really had little to do with our current financial mess. That was caused primarily by an out of control Congress and poor regulation, again because of the disinterest of again, Congress. Just something to consider.
Glass-Steagall: If Not the Cause, Maybe the Cure? [View article]