[lbo-talk] MS and GS become banks

Michael Pollak mpollak at panix.com
Mon Sep 22 04:44:02 PDT 2008


On Sun, 21 Sep 2008, Doug Henwood wrote:


> So the repeal of Glass-Steagall came to this: they all became commercial
> banks!

Which as Nomi Prins glumly points out, means that we've gone back to the situation that caused the great depression, except that the behemouths we just created are much huger than before. So if there's no regulation, there's one more even bigger bang a comin' down the road.

Michael



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