Quite the odd couple. They want to reinstate Glass-Steagall. Good intentions. But, it’s an anachronism. We’ve entered the electronics age. Even if banks segregate at-risk assets on commercial side from investment deals, the risk just shifts. The entities still rely on profits from split-second trades, derivatives and new instruments invented way ahead of the regulators ever catching up.
Problem persists. Power concentrated in a few U.S. Banks. Each too big to fail.