Tags » Glass-Steagall Act

Take the U.S. Economy from Bankrupt Wall St., Create Federal Credit for Growth & Employment

The Wall Street system of banks is again facing a bankruptcy crisis — this time triggered by collapsing oil and commodity debt and derivatives — and even central bankers know that it will be as bad as a second 2008 crash, or worse. 668 more words

Economy

Financial crisis: Revisiting the banking rules that died by a thousand small cuts

Many have bemoaned the U.S. government’s failure to do more to strengthen the financial system following the 2008-2009 crisis. In particular, Congress has not considered anything resembling a revival of the Glass-Steagall Act, which separated the humdrum deposit-taking function of commercial banks from the kind of dubious investment and trading activities that set up financial institutions for a fall. 989 more words

Finance

Brooksley Born's Derivatives Warning Was Ignored - Again.

Posted on December 16, 2014

by Jerry Alatalo

While Chair of the Commodity Futures Trading Commission (CFTC) from 1996-1999, Brooksley Born warned Federal Reserve Chairman Alan Greenspan, Treasury Secretary Robert Rubin, Securities Exchange Commission Chair Arthur Leavitt, and the United States Congress about the massive potential risks to the nation’s financial system from the unregulated over the counter derivatives market. 1,116 more words

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