glass steagall

[Carl Remick]

>Other countries have no equivalent of Glass-Steagall; they have
>large, universal banks. And many of those other countries have more
>egalitarian distributions of income and fewer financial crises than
>does the U.S. It's how you regulate and supervise the beasts that
>matters. All that populist inheritance about dispersal of ownership
>deserves a decent burial.

I think you're a little hasty there, Doug.  Arguably, "those other countries 
have more egalitarian distributions of income and fewer financial crises" 
*despite* having large, universal banks.  I can't see how it helps the 
quality of U.S. life to have retrograde social policies *and* the greater 
concentration of capital that will result from abolition of Glass-Steagall.

Carl

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