Dylan Ratigan Celebrates the Birthday of the Gramm-Leach-Bliley Act

[Obwon]

Dylan Ratigan Celebrates the Birthday of the
Gramm-Leach-Bliley Act

http://videocafe.crooksandliars.com/heather/dylan-ratigan-celebrates-birthday-gramm-le?utm_source=feedburner&utm_medium=email

Posted: 13 Nov 2009 01:00 PM PST

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Dylan Ratigan has a bit of fun with a deadly serious topic
and 'celebrates' the anniversary of the Gramm-Leach-Bliley
Act which tore down the wall between Wall Street investment
banks, commercial banks, and insurance companies.

http://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act

Gramm-Leach-Bliley repealed the Glass-Steagall Act of 1933
which prohibited any one institution from acting as any
combination of an investment bank, a commercial bank, and/or
an insurance company.

http://en.wikipedia.org/wiki/Glass-Steagall_Act

While I think Ratigan's theatrics are a bit over the top,
the point he's trying to make is not. We're long overdue
with some new regulations to get rid of these too large to
fail entities with both regulating and breaking them up. Why
the Obama administration has continued to keep our economy
in a state where it could collapse again due to the risk
these institutions pose is beyond me.

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Repeal the GLB!!!