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Politics : American Presidential Politics and foreign affairs

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To: DuckTapeSunroof who wrote (41627)	3/4/2010 3:36:50 PM
From: TimF	Read Replies (1) of 71588

Re: "1 - There isn't a good reason to think that Glass Steagal reduced the occurrence or severity of financial panics/failures/crashes." Why? A bizarre question. You need a why, in order to have a good reason to think something, not to not have a good reason to think it. Re: "2 - In direct terms its reasonable (but not certain) that a longer time between crashes (assuming the longer time doesn't result in a more severe crash)...." Really BIG darn ASSUMPTION there! Yes a big assumption, but one made to be more favorable to your point. If you don't assume it, then a greater period of time between financial panics isn't necessarily favorable, so even if Glass Steagal did contribute to this greater interval (which is itself very questionable to say the least), it still wouldn't necessarily be justified.

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