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.
2 Replies to “Warren-McCain?”
At least Cordray’s appointment got approved. M knows him and thinks very highly of him.
Yes, that is very good.
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