glass steagall

[Max Sawicky]

>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
>>>>>>>

Ditto-rama.  The S&L bailout was a foretaste of
what we could be in for after Glass-Steagall.
The distribution of gains and losses resulting
from that event and its remedy was not an advance
for economic justice.

mbs