Tuesday, July 19, 2016

A Little Recommendation

Was trying to make a point to someone about the Clinton Administration's financial legislation in 1999 revoking the Glass-Steagall Act, enacted after the Great Depression.
Glass Steagall protected U.S. taxpayers from the greed and avarice of banks for the balance of the 20th Century but of course, not from Savings & Loans, which we had to bail out in the early nineties.
Looking online for info on comparing Glass Steagall and what the Obama Administration managed to replace it with, the Dodd-Frank Act, I discovered this:   

Pam & Russ Martens, who wrote it, are by no means the only economists insisting that Dodd-Frank doesn’t protect us. The Republican Party platform includes a plank to bring back Glass Steagall  Old Socialists and critical eyes might have to consider voting Republican, now that the Dems, washed out Bernie. Check it out.

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