The_Noble_Cause wrote:Certain members of both parties may have advocated reinstating Glass-Steagall, I don't believe it has been yet. Nor will it.
Its' not "certain parties may have"... they actually have...
On December 16, 2009 John McCain (R-Ariz.) and Maria Cantwell (D-Wash.) introduced legislation that would restore the Glass-Steagall Act (aka the Banking Act of 1933),
The_Noble_Cause wrote:The GOP was against Glass-Steagall under FDR, and remain against financial regulation now.
Not quite.
On October 21, 1999 the "Banking Modernization Act", was deadlocked... in a GOP led Congress.
Sanford I. Weill (who founded Citigroup) made a personal call to President Clinton asking for his help in breaking the GOP deadlock. A deal was announced at 2:45 a.m. on Oct. 22nd that would eventually lead to CitiGroup to becoming the largest financial institution in the world. Clinton’s signature on the repeal of Glass-Steagall wiped out one of the most important pieces of FDR New Deal legislation. The pen Clinton used to sign the bill is on Sanford I. Weill's wall....
The_Noble_Cause wrote:Like the story of the frog and the scorpion, that’s just their nature.
The frog story I'm more interested in is the "slowly boiling" one... which is apparently the nature of most of the population...
As I said earlier.. the problem is not one or the other party..... its much bigger than that... and both parties are completely disconnected from serving The People.