Hillary Clinton on Thursday put forth her plan for Wall Street reform, absent from which is an element progressives see as key: the reinstatement of Glass-Steagall. The Depression-era law, which put a wall of separation between investment and commercial banking, was repealed under President Bill Clinton in 1999. The most important effect of its repeal, wrote Public Citizen president Robert Weissman, "was to change the culture of commercial banking to emulate Wall Street's high-risk speculative betting approach."
Read the rest of the story HERE:
At www.commondreams.org
At www.commondreams.org
1
1
1
