Dylan Ratigan has a bit of fun with a deadly serious topic and 'celebrates' the anniversary of the Gramm-Leach-Bliley Act which tore down the wall bet
Dylan Ratigan has a bit of fun with a deadly serious topic and 'celebrates' the anniversary of the Gramm-Leach-Bliley Act which tore down the wall between Wall Street investment banks, commercial banks, and insurance companies. Gramm-Leach-Bliley repealed the Glass-Steagall Act of 1933 which prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and/or an insurance company.
While I think Ratigan's theatrics are a bit over the top, the point he's trying to make is not. We're long overdue with some new regulations to get rid of these too large to fail entities with both regulating and breaking them up. Why the Obama administration has continued to keep our economy in a state where it could collapse again due to the risk these institutions pose is beyond me.