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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (1018)	7/1/2002 1:44:59 PM
From: Jim Willie CB	Read Replies (4) \| Respond to of 89467

havent thought much about Glass-Steagal Laws lately, but... think about the internal pressures within financial industry insurance brokerage banking the banks are in trouble with derivative monsters they influence brokerage houses to push bank stocks well, bank sector leads us out of recession, right? the insurance companies pay out big for terrorist attack they need big redemption value for stock holdings brokerage houses push on retailers to come back to stocks brokerage houses lose out in lawsuits and fines it weakens the positions of banks and insurers banks are insurers are bled badly but brokerage research cannot speak freely about their health then there is the ad revenue received by the media these three groups are in thick together the pressures are all over I see now that repealing Glass-Steagal may weaken the system from fixing itself instead, it will protect itself oy, jim