about bloody time....

This will happen about the same time Ron Paul gets a bill passed to abolish the Fed. Not going to happen, the problem has been fixed with capital requirments and discount window access. Glass Stegall repeal did not make the interest rate 1%, nor did the own over half the Mortgages in the country, it made it possible for the Citis of the world to over leverage that make liquidity a problem when assets decrease, that's already been corrected for over a year, get use to it. Well except Fannie and Freddie, they still get 70/1 leverage.
 
Obfuscate said:
This will happen about the same time Ron Paul gets a bill passed to abolish the Fed. Not going to happen, the problem has been fixed with capital requirments and discount window access. Glass Stegall repeal did not make the interest rate 1%, nor did the own over half the Mortgages in the country, it made it possible for the Citis of the world to over leverage that make liquidity a problem when assets decrease, that's already been corrected for over a year, get use to it. Well except Fannie and Freddie, they still get 70/1 leverage.
Click to expand...

Idiot... that is not all Glass Steagall did. Glass Steagall kept a firewall up between the investment banks and the retail banks. Thus lenders could only package and sell loans approved by the investment banks. Once they were allowed to merge together all hell broke loose and lending standards deteriorated into the mess we have today.

Glass Steagall will return. As will the uptick rule.

Why do you suppose the JP Morgan's and Goldmans of the world are fighting so hard to stop this from happening?
 
Superfreak said:
Idiot... that is not all Glass Steagall did. Glass Steagall kept a firewall up between the investment banks and the retail banks.
Click to expand...

Um, dummy, the retail/deposit banks have Capital requirements and access to the discount window, Investment banks didn't, when they took the "firewall' down these allowed both and they could leverege up their invvestment side risking the deposit/retail side. That has been corrected. It won't return, even if I agreed with you doesn't mean politically I think this would happen.
 
You must log in or register to reply here.
Back
Top