...although effectively it isn't better, since Glass-Steagall is now long dead and unlikely to ever be revived.

It always amazes me that these people were able to gut regulations, arguing that the financial would "regulate itself more effectively". Hah.

Human nature is human nature. When put in charge of vast sums of money, and the ability to play risky games with other people's money, and the knowledge that any large failure will be covered by the public, while any gains will be pocketed, guess what? People will go ahead and play risky games with the money. Gosh, who woulda thunk.

The worst part to me, is that those who failed, and whose failures have resulted in widespread misery here and abroad, are rolling in money. They still got their "performance" bonuses, they still have their homes in the Hamptons, they still eat their gilt-laced desserts for $1000 a pop, and they still dictate financial policy to the rest of us.

Bastards.

back, but the amount of damage caused by its repeal, and the damn revisionists who parade across these financial shows day in and day out, saying it had nothing to do with the financial crisis, are so full of hog wash

Moreover the dangers lie in Europe which we can't regulate.

Does Glass Steagall fix this problem of exposure to European banks?

incorporate too big to fail, which would prevent one institution from bringing everything else down

They don't even want to stress test their banks much less impose stricter capital ratios and he is getting to installation of Glass Steagall like laws?

I'll believe it when I see it.

The current situation reminds me of a "Beverly Hillbillies" episode - the one where Jed wants to see all of his money.