Gasparino Talks Glass-Steagall, Dimon, Volcker
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(Human, 14,358
Points)
on 11/17/09 at 3:56am
Gasparino calls Glass-Steagall "common sense" and opines that Jamie Dimon's hotline to the Prez might be what's keeping the regulation from making a comeback...





Comments
It's no coincidence that less
It's no coincidence that less than 10 years after the repeal of Glass Steagall, 3 of the largest investment banks (Bear, Lehman, Merrill) collapsed and/or got swallowed by commercial banking conglomerates. The Government/Fed is heavily connected with the large banks (Citi, Bofa, JPM) and want to consolidate the industry into the hands of the few.
The government is also trying to take over the healthcare industry which makes up over 15% of GDP. I hope the Senate doesn't pass that bill...