glass steagall

[Carl Remick]

>Max Sawicky wrote:
>
>>  The S&L bailout was a foretaste of
>>what we could be in for after Glass-Steagall.
>
>Because the S&Ls were allowed, unsupervised, to do business in areas
>about which they knew nothing. I said it's how they're regulated that
>matters.

Yes, but that begs the question.  Since there is no chance whatsoever that 
oversight of financial capital will be tightened in the current political 
climate, why recreate the seamless web of institutionalized chicanery that 
existed in the 1920s?

Carl

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