Wednesday, December 16, 2009

A real chance for Financial Regulation?

It looks like there is a substantial move afoot to reinstate Glass-Steagall. The bill was removed a few years back basically to allow Citi bank to merge with an investment firm and create the biggest bank in the world. That being said, Health Care reform has turned into a mess. What's going to stop financial reform from going the same way? Every member of Congress is going to look to get their interests taken care of regardless of the goals of any bill.

http://www.newsweek.com/id/226938
http://bloomberg.com/apps/news?pid=20601087&sid=arMrSVjq4cts&pos=1
and good ole' Volker has been on a recent press tour. Here's a statement he made back in September.
http://www.house.gov/apps/list/hearing/financialsvcs_dem/volcker.pdf

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