Wednesday, August 01, 2012

The Shatterer of Glass-Steagall Wants It Restored

As Citigroup Chairman & CEO in 1999, he pushed Bill Clinton to repeal Glass-Steagall Act, which ensured a clean division of commercial and investment banking. He even has a plaque in his office celebrating himself as "The Shatterer of Glass-Steagall."  Now, he calls for the return of the same Glass–Steagall Act.
 Spiegel: It's Time To Break Up Massive Banks!

1 comment:

Arvind said...

The article still does not get it. Banks derive their unfair advantage from the fractional reserve and paper money that is injected into the system through them. Until these issues are dealt with, we will continue to have the problems.