Time for a new Glass-Steagall? « Hot Air: "Does anyone else find that all of the talk about breaking up the too-bog-to-fail discussions is somewhat akin to Mark Twain’s observation about weather conversation? Everyone talks about breaking up the giant financial institutions, but few seem keen on starting the project. A bipartisan group of Senators — well, some Democrats and John McCain, anyway — have proposed reinstating a form of Glass-Steagall, the Depression-era law that blocked banks from higher-end investment activities until 1999. That would force the biggest institutions to break up, but will the coalition pushing it ruin its chances?"
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