For the conspiracy theory minded-
One of the reasons propounded by conspiracy theorists as to why "they" (CFR, Trilateral Commission, Bilderbergers, etc.,etc) have let the Bull Market go on so long is that they were waiting for the repeal of the Glass-Steagall Act. The Glass-Steagall act forbade, among other things the investment by banks in shares of stock, thus shielding the assets of the banks, and the small depositors, from a cataclysm like the one that occurred in 1929. According to the theory, the power brokers want those last "few" dollars in the banks before they take the market down big time. The Glass-Steagall Act also prohibited banks from underwriting or dealing in securities.
On Wednesday, Rep. John Boehner (R-Ohio) said on CNBC he sees legislation repealing the Glass-Steagall act being voted on in the House before the end of March, and he forsees its passage by a comfortable margin. Banks will be able to sell securities and all insurance products, with an estimated savings of $15 billion being passed on to consumers, Boehner said.
Another piece to the puzzle? |
