Thursday, May 18, 2017

"No One Should Think That Gives Us the Protection We Need"

"Dodd-Frank sought other ways to safeguard the system. It toughened capital requirements for banks and required the biggest financial firms to develop liquidation plans so they could be more easily shut down if they teetered near collapse. And the so-called Volcker Rule prohibited banks from trading for their own profit and limited their ownership of risky investments.
"But there's no question that the repeal of Glass-Steagall led to consolidation in the U.S. financial system."

Jim Puzzanghera in the Los Angeles Times looks at the question of reinstating the Glass-Steagall Act.

No comments: