Wednesday, June 01, 2011

Jim Sensenbrenner? Where Are You?

Saw Jim Sensenbrenner at the parade the other day.

Maybe that's why he hasn't yet co-sponsored this.

To repeal certain provisions of the Gramm-Leach-Bliley Act and revive the separation between commercial banking and the securities business, in the manner provided in the Banking Act of 1933, the so-called "Glass-Steagall Act", and for other purposes.

Glass-Steagall was very effective at keeping banks in the banking business and investment houses in the investment business. The separation was deliberate, and worked well.

Then Phil Gramm--who was confused--repealed it.

Then.........well.........2008 happened.


J. Strupp said...

"Where's Ron Paul in this list? Bachmann? Anyone with an "R" after their name?"

I hope that's rhetorical.

It's a good idea. Why would the Grand Ol' Party support it?

Dad29 said...

No video links allowed here.