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I am going to lose a lot of followers on this but you cannot continue to repeat something that is inaccurate
Glass Steagall was an unimportant piece of legislation- citation to follow
Other regs yes- GS - NO
A heavily cited thread
And open to discussion https://twitter.com/TurncoatD/status/1388331911580319744
Glass Steagall was an unimportant piece of legislation- citation to follow
Other regs yes- GS - NO
A heavily cited thread
And open to discussion https://twitter.com/TurncoatD/status/1388331911580319744
Foremost let me explain what Glass Steagall is and why everyone uses this in cocktail conversation in an attempt to sound smart about the economy
It’s the Depression-era bank regulation that kept different types of financial institutions separate https://www.politifact.com/factchecks/2015/aug/19/bill-clinton/bill-clinton-glass-steagall-had-nothing-do-financi/
It’s the Depression-era bank regulation that kept different types of financial institutions separate https://www.politifact.com/factchecks/2015/aug/19/bill-clinton/bill-clinton-glass-steagall-had-nothing-do-financi/
Think about the date and time Glass Steagall was passed and 1990s/1990s
different realities we have since- then. Phones, computers, and tech
I would argue failure to keep up w/ how the world has changed played larger roles in our financial crashes https://www.investopedia.com/ask/answers/042115/what-caused-black-monday-stock-market-crash-1987.asp
different realities we have since- then. Phones, computers, and tech
I would argue failure to keep up w/ how the world has changed played larger roles in our financial crashes https://www.investopedia.com/ask/answers/042115/what-caused-black-monday-stock-market-crash-1987.asp
So now you understand where I am coming from
Regulation fails to adequately keep pace with technology and its affects on our market and economy
SO why would you center your entire regulatory argument on a law created in 1929 even before we regularly used telephone
Regulation fails to adequately keep pace with technology and its affects on our market and economy
SO why would you center your entire regulatory argument on a law created in 1929 even before we regularly used telephone
By time Glass Steagall was put to rest it had barely the ability to speak for the 1980s must less the 1990s and definitely have no ability to be relevant today.
You can make the argument than a review of what was needed to replace it made sense - then I am hooked
You can make the argument than a review of what was needed to replace it made sense - then I am hooked
But the ppl who make these argument - wrangle and squeeze a point “well Glass was more emblematic of a system of deregulation”
Hmm
“ I have a problem w/ lack of evidence based approaches”
Hmm
“ I have a problem w/ lack of evidence based approaches”
