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Megan McArdle on Glass Steagall

Link:Off all the most bizarre statements running around about this crisis, the most bizarre is the shockingly common belief on the left that this can somehow be traced back to the Gramm-Leach-Bliley act, which "repealed" Glass-Steagall. (The equivalent, not-quite-as-loony belief...
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In Defining Hypocricy, Weill, Who Led Repeal Of Glass Steagall, Now Says Big Banks Should Be Broken Up

Business & Finance : Zero Hedge (2 years ago)

Who is Sandy Weill? He is none other than a retired Citigroup Chairman, a former NY Fed Director, and a "philanthropist." He is also the man who lobbied for overturning of Glass Steagall in the last years of the 20th century, whose ... Read Post

Glass Steagall Repeal Made Crisis Worse

Business & Finance / Investing : The Big Picture (2 years ago)

The repeal of Glass Steagall itself did not cause the financial crisis. However, the repeal did help make the crisis worse. I bring this up because there has been a series of straw man articles claiming Glass Steagall was not a caus... Read Post

Gramm: Glass Steagall Repeal Irrelevant

Business & Finance / Investing : The Big Picture (5 years ago)

Phil Gramm, the former Republican Senator from Texas who co-wrote the act that undid Glass-Steagall, has our DQotD: > “I’ve never seen any evidence to substantiate any claim that this current financial crisis had anything to do with... Read Post


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