Tuesday, July 27, 2010

Does Ron Johnson Support Returning to the Glass-Steagall Act?

There's just a ton of RJ news this morning, in what I can only imagine is the start of a more aggressive media strategy. Part of the news comes from an interview with Letters in Bottles:
LIB: That tends to suggest an answer, but let’s just make it clear – what would your suggestions be toward fixing the crisis that we’re now in?

RJ: Well we absolutely have to reform Fannie and Freddie, first of all. And that, truthfully, I would be looking back to banking rules and regulations back since the ‘60s, ‘70s and ‘80s in terms of things working. I would seriously take a look at these banks that are still termed “too big to fail,” and maybe we need to orderly break them up under anti-trust laws.
That sounds a lot like Johnson wants to roll back much of the banking de-regulation that occurred in the 1990s, a decade that saw the repeal of regulations like the Glass-Steagall Act (the law that separated traditional banks from investment banks since the great depression).


CJ said...

Live chat? City Council Meeting?

Stewie said...

Apparently not.

Anonymous said...

( ̄へ ̄)