All Articles on Glass-Steagall
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Views Get Ready for the Obama/GOP Alliance With Obama pushing a huge troop escalation in Afghanistan, history may well repeat itself with a vengeance. And it's not just the apt comparison to LBJ, who destroyed his presidency on the battlefields of Vietnam with an escalation that delivered power to Nixon and the GOP. There's another... Read more |
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Views Split Up The Banks! Restore Glass-Steagall Ten years ago, the Republican-controlled Congress - egged on by that champion deregulator, former Texas Sen. Phil Gramm - passed legislation that arguably did more to plunge the United States into our crippling great recession than anything else: It repealed the Great Depression era's Glass-... Read more |
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Views Can FCIC Investigations Instigate Bold Financial Reform? In a recent Nation cover story , William Greider decried the lack of attention being paid by the media to the Financial Crisis Inquiry Commission (FCIC) charged with investigating the causes of the financial meltdown. "The press has moved on. Financial crisis was last year's story," he wrote. But "... Read more |
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Views A Decade Late and Billions Short The wizards of Wall Street are finally admitting they were wrong. But we can't trust that they have learned their lesson Read more |
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Views Breaking Up Is Hard To Do When it comes to understanding the real economy and the struggles of ordinary Americans, Senator Bernie Sanders always seems to be ahead of the curve and fighting like hell for Congress to show leadership and be responsive. Now he's doing it once again with his legislation to break up the Too Big... Read more |
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News Will Nader Challenge Dodd? Could Ralph Nader reprise his spoiler role at the expense of Sen. Chris Dodd (D-Conn.)? The consumer crusader, perennial presidential aspirant and Winsted, Connecticut native says lots of people are asking him to run for the Senate against Dodd in 2010 -- and he isn't saying no just yet. "You can't... Read more |
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Views Reflections on Glass-Steagall and Maniacal Deregulation Today marks the 10-year anniversary of the passage of the repeal of the 1933 Glass-Steagall Act and related legislation. It is an anniversary worth noting for what it teaches us about forestalling financial crises, the consequences of maniacal deregulation, and the out-of-control political power of... Read more |
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Views No Armistice In War on Poor Armistice Day reminds us that when wars end, the winners and losers are supposed to make peace. For the first time, in 2009, leaders of World War II enemies, Germany and France, commemorated the date together as a sign of new mutual respect. But this week also marked the ten-year anniversary of a... Read more |
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News Financial Firms Fight Giving Government Breakup Powers The nation's biggest financial firms are racing to Capitol Hill to sway lawmakers against legislation that could give the government broad new powers to break up large firms. JPMorgan Chase & Co., Citigroup, HSBC, Prudential and MetLife are among the big banks and insurers that have had more... Read more |
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Views The Real Danger of 'One Big Regulator' Financial regulation is the next item on the political horizon, and it doesn't have to be the deathly dull wonk-battle that it sounds like. In fact, if the Democrats do their job, it can just as easily become a platform for addressing the greatest issues of them all. Our current way of regulating... Read more |