Toddsterpatriot
Diamond Member
[If I understand you we should change the law because it might be a problem, not because it has been. Right?
Quantum Windbag, no, because it has been a severe problem before the 1933 Glass-Steagall Act was enacted.
Theres good reason to question if the other additional laws and regulations that have been enacted are themselves sufficient to prevent history from repeating itself. Finance and economic academias cannot predict when the repeal of the 1933 act will again cause grievous U.S. and probably global economic harm but they have good reason to expect that such disasters will again occur.
I sense the majority of practical and experienced executives disagree with the academias. The backgrounds and credentials of these executives are similar to the proponents of prior policies that led to all of the prior economic disasters weve experienced.
[Unlike the academias, the executives and their enterprises as a class generally had a vested interest and very well profited from the policies they advocated; (until those policies failed)].
Respectfully, Supposn
How was Glass-Steagall going to stop banks from writing bad mortgages?