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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (178919)	1/9/2012 12:24:49 PM
From: bentway	Read Replies (1) \| Respond to of 541756

I think we should go beyond Glass-Steagall. I think EVERY corporation should have to prove it's worth to society on a regular basis to be allowed to exist at all. No good provided for society, no incorporation allowed. I think that alone would eliminate a lot of Bain Capitals and investment banks, as well as exotic financial products that threaten the world economy.

To: Sam who wrote (178919)	1/9/2012 2:10:39 PM
From: Win Smith	Respond to of 541756

I'd agree with bentway that Glass - Steagall isn't enough, though it certainly seems clear that repeal was a bad idea. Now that Wall St.,the banks and the rest of the financial industry have all congealed together into this mostly unregulated too big to fail mass, I think it;s going to take a lot more than Glass Steagall to get it under control. And given the implacable resistance that has been declared against the modest re-regulation efforts post-meltdown, I fear it'll take an even bigger disaster before anything happens. Gloomy Monday for me.