Keeping the banks in check

By MARC MEWSHAW  |  August 8, 2013

Scariest of all is Obama’s apparent backing of Larry Summers for the chairmanship of the Federal Reserve. Secretary of the Treasury under Clinton, Summers was among the loudest voices clamoring for deregulation in the ’90s, and he was instrumental in Glass-Steagall’s repeal. The last thing we need at the wheel of US fiscal policy is a man known for his anything-goes attitude towards Wall Street.

If we want the hard lessons of 2008 put into practice, we need more regulation, not less — and Glass-Steagall is a good start. 

< prev  1  |  2  | 
Related: Warren for Senate?, Narrowing the Field, Elizabeth Warren's new chapter, More more >
  Topics: The Editorial Page , Elizabeth Warren, London Whale
| More


Most Popular
ARTICLES BY MARC MEWSHAW
Share this entry with Delicious
  •   KEEPING THE BANKS IN CHECK  |  August 08, 2013
    There is afoot a bipartisan effort to dust off a defunct law that could erect a sturdy guardrail against the systemic banking crises that nearly brought our country to ruin in 2008.
  •   THE PART-TIME EPIDEMIC  |  July 10, 2013
    When it comes to Obamacare, good thing Republican US Senator Susan Collins has the workingman's back. Or does she?
  •   FIXING THE MESS OF STUDENT DEBT  |  June 13, 2013
    On July 1, the interest rate on federal Stafford student loans is slated to jump from 3.4 percent to 6.8 percent. Luckily, the forces of common sense have an ace up their sleeve.
  •   IMMIGRATION BY THE NUMBERS  |  May 16, 2013
    After many false starts, a convergence of public sentiment and political will has sped the country to the brink of comprehensive immigration reform. In purely economic terms, it's a no-brainer — one of those rare instances where a moral imperative neatly aligns with our national self-interest.  
  •   TRAMPLED BY A BULL MARKET  |  March 20, 2013
    The tailwinds behind the rally are largely illusory. Wall Street owes its bullish run to systematically pillaging our retirement funds.

 See all articles by: MARC MEWSHAW