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Politics : The Obama - Clinton Disaster
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To: Wayners who wrote (24590)1/13/2010 6:09:50 PM
From: TimF  Read Replies (1) of 103300
 
Glass Stegal was eroding in the US for much longer than 10 years, also as I pointed out most of the other rich countries never had something like Glass-Steagal, if its the reason why didn't they have this financial crisis decades ago?

With Glass Steagal still in place you could still have had all sorts of securitization and derivitives including CDSs. You still would have had the housing price and mortgage debt bubble. It would have done just about nothing to contain the bubble or the effects of it popping.
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