Senators Warren & McCain propose new Glass-Stegal Act

[Indy]

[eynon81]

[eric]

Of course the FED is against it, they work for the bankers.

[eynon81]

[Indy]

But this was the beef I had with our friend's argument here: OMG you cannot reinstate G-S because the markets will panic!

a) It had been in place since the 30s until 1999, and the markets didn't panic
b) They said the exact same thing when it was implemented back then, and the markets didn't panic

I'm not saying it's a silver bullet and people like G5000 will tell you that simply upping capital requirements is all you need to do--a debate I'd like to have.

But what never ceases to impress me is the way these jackasses on CNBC--who have zero credibility at this point, people, remember? Remember how they didn't see 2008 coming and mocked those that did? The way they keep insisting that Wall St. be left without any parental supervision after what they did. Amazing. No remorse, no accountability, nothing.

As Warren just proved in spades, anybody who knows their facts can wipe the floor with these clowns and their ridiculous arguments. And when they run out of arguments they simply pivot to: "Well it will never pass anyway!" which isn't even an argument.

It was however an unintended admission: it would never pass no matter how legit because Wall St. has bought off our gov't. I wonder if those bozos realize they were indirectly admitting that.

[The Dharma Bum]

[eynon81]

[Charai]

[Indy]

LOL. They should have never been combined.

[Charai]