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Reply by jeepturner

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Posted on No More bailouts, Let irresponsible buisnesses fail

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jeepturner

920 posts in 1451 days


#1 posted 05-20-2012 06:42 PM

“I have no problem with the Glass-Steagall act being repealed” patcollins

“Those who cannot remember the past are condemned to repeat it” George Santayana

Banking crisis were a ~10 year cycle in the free market of the US prior to Glass-Steagall, and the interesting thing to a history buff like me is that it took about 10 years for the banks to start another one after it was repealed.
I have learned not to discuss economics here but, I just had to interject because there is a long history before G-S. It was not created in a vacuum, there was a reason for it, but we forgot.

-- Mel,


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