Bring Back Glass-Steagall

That's what Volcker is saying. Separate commercial banks from investment banks. In Volcker's view combining the two creates risks and " if you try to control the risks with supervision, that just creates friction and difficulties” and ultimately fails. Volcker, who is 82, acknowledges that some think him old-fashioned and in denial of the new world where both commercial and investment banks can function well as a single entity. His response - “That argument brought us to where we are today.”