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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (41605)3/2/2010 1:30:16 PM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
I believe that it would be much easier to make an argument that Glass Steagal helped to prevent the periodic outbreak of mass financial frauds and crashes (financial crashes were certainly more frequent in America before G-S then after...) rather then try to make any case that actual GROWTH became higher or lower then it might otherwise have been.

That's probably a bridge too far.

STILL... that having been said... SOLID and SUSTAINABLE GROWTH is dependent upon faith and confidence in the financial system, and in the fair application of the rules that govern it's operations and the results of said rules.

And... a GREATER PERIODICITY for mass financial panics and failures and crashes is most certainly *not* conducive to higher levels of either wealth or economic output.

In fact, investors tend to SHUN such unpredictable and higher risk jurisdictions.
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