Why should we bankrupt Wall street !

Passionforinvestment bank:

We need to go back to the credit system to save this nation, by putting in place glass Steagall legislation separate commercial and investment banking.

lol

So what your saying is...

OP, make an argument based on reason and not grandstanding then come back...

Isn't this the guy who wanted to start an investment bank?

Other than that I am wholly blown away by the depth of compelling evidence presented by the OP.

What about all of the recessions that occurred during the Glass Steagall era?

Despite the OP's utter lack of anything... The Glass-Steagall Act probably does have some merit today and there should be consideration into reintroducing it. I am not one of those trolls who beleives it would have prevented the most recent credit crisis, but it might have changed some of the factors that contributed to it, if nothing else when you are securitizing loans you might look at them more closely if you aren't making some of those loans yourself. I still think the so-called rating agencies deserved to be skewered for their utter lack diligence, but we are too far past the point of it mattering. OF course I work for a company that would need to be broken up if Glass-Steagall was re-enacted so lets drop the whole thing and get back to work.