Obama’s ‘new Glass-Steagall Act’


Richard Moore

What are we to make of this? Certain things need to be taken into account:
1) Obama so far has never kept his word on any of his progressive-sounding promises.
2) If this even happens, it will be locking the chicken coup after the foxes have gotten away with the chickens.
3) It applies only to banks with customer deposits, which leaves plenty of room for other financial institutions to keep right on doing all those things that should be banned.
4) It freezes in the dominance of the current dominant institutions. 
In short, I’m not impressed.