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 the megafinancial institutions.