----- Original Message ----- From: Tom Lehman <TLEHMAN at lor.net> To: <lbo-talk at lists.panix.com> Sent: Saturday, November 06, 1999 11:03 AM Subject: Re: glass steagall
> Here's a question I have to ask, what did organized labor gain out of the
> demise of Glass Stegal? Any leverage? Any logs rolled in our favor? A
> couple of dog catcher jobs for somebodies relatives? Anything!?
> Tom Lehman
> Max Sawicky wrote:
> > 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.
> > Doug
> > >>>>>>>>>>
> > In principle we could allow crazy people access
> > to bazookas. With proper regulation there would
> > be no ill effects.
> > One way to regulate is to simply deny banks the
> > power to go into certain areas. This is much
> > simpler than trying to micro-regulate, so to
> > speak.
> > mbs