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11-25-2008, 03:09 AM
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jurnalkduo
Join Date
Oct 2005
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I wonder how hard it would be to re-institute Glass-Steagall in the current climate ... I know if they tried, and any of my representatives voted against it, I'd actively campaign against them myself in 2010, if they were still my representative then. I don't know how many others out there feel the same way as me, though.
Heck, I wish Congress had required, as a part of the bailout, a Ma Bell-like breakup of Citigroup/Chase/BoA/etc.'s retail banking arms, down to at least regional level if not state level (regional being somewhat dangerous in case, say, Steel or Automobile or ... industry were to collapse, killing the midwest/east/etc. and thus taking down a whole region's bank... though at least that would be cheaper to bail out). Do that and add in leveraging limits (12:1 or, better yet, 5:1) and I'd be okay with this bailout crap.
As it is, I certainly would vote for any candidate running on a "Hell No We Won't Bail Out" platform ... not that almost any in IL were doing so in 2008
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