Giant Wall Street banks continue to threaten the wellbeing of millions of Americans, but what to do? Bernie Sanders says break them up and resurrect the Glass-Steagall Act that once separated investment from commercial banking. Hillary Clinton says charge them a bit more and oversee them more carefully. Most Republicans say don’t worry. Clearly, there’s … Continue reading »
The man who invented ‘too big to fail’ banks finally recants. Will Obama or Romney follow?
I’m in Alaska, amid moose and bear, trying to steal some time away from the absurdities of American politics and economics. But even at this remote distance I caught wind of Sanford Weill’s proposal this morning (July 25) on CNBC that big banks be broken up in order to shield taxpayers from the consequences of … Continue reading »