New Glass-Steagall Is No Solution

Eugene N. White, 2 March 2010Where do the real causes of the global financial crisis lie? This column argues that that a dispassionate examination is needed in order to properly reform the banking system. As the Glass-Steagall Act of 1933 illustrates, a mad dash for regulation where special interests can manipulate popular outrage is a recipe for cooking up the next financial disaster.Full Article: Is the New Deal in banking a guide for today?

John M. Mason submits: One of the things that bothers me about all the talk concerning the re-regulation of banks and other financial institutions is that it is “framed” within the context of the Great Depression and the Glass-Steagall Act, the Banking Act of 1933.Get real people, times have changed!Complete Story »