In article ,
Nad R wrote:

Times are different than the thirties. Banks in the seventies were
struggling with high inflation and high interest rates handcuffed by many
parts of Glass-Steagall. President Reagan removed many parts of that Act.
President Bill Clinton just finished it off. Economic times did get
better, but they also have consequences, like going into a great
depression.

Jumbo jets, gigantic transport ships the Internet and other modern
technologies have changed the world. The Glass-Steagall Act will not work
in a free trade global environment. For the Glass Steagall Act to work some
what, one first has to ban free trade.. If any nation can. In this global
corporations will just set up somewhere and black mail any nation they
choose from abroad.

Apparently, not everyone agrees with you.

http://www.nytimes.com/2011/01/28/opinion/28krugman.html?_r=1

January 27, 2011

Their Own Private Europe
By PAUL KRUGMAN

"The lesson of the Irish debacle, then, is very nearly the opposite of
what Mr. Ryan would have us believe. It doesn’t say “cut spending now,
or bad things will happen”; it says that balanced budgets won’t protect
you from crisis if you don’t effectively regulate your banks — a point
made in the newly released report of the Financial Crisis Inquiry
Commission, which concludes that “30 years of deregulation and reliance
on self-regulation” helped create our own catastrophe. Have I mentioned
that Republicans are doing everything they can to undermine financial
reform?"
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- Billy
"Fascism should more properly be called corporatism because it is the
merger of state and corporate power." - Benito Mussolini.
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