Saturday, May 26, 2012

Glass Steagall is the word, like Greece's revolt is the word in Europe. The system is bankrupt again, Harlem dudes, so get down.

Typical of local media coverage is this week's article in Minnesota, in the St. Cloud Times: "Our View: JP Morgan Loss Fuels Reform Calls." It states, "Another suggestion involves reinstating the Glass-Steagall Act, which came about in the Great Depression to stabilize banking but was repealed in the late 1990s to allow banks to expand and enter the securities industry. In other words, deregulation..."

No comments: