My take on a variety of topics that are shaping the U.S. in the 21st century.
Saturday, August 09, 2014
Dodd-Frank vs. Glass-Steagall
At the simplest level, D-F is 849 pages long, G-S 37. Four years later 52% of D-F's rules have been implemented, it took G-S one year to implement everything in the bill. Today the TBTF banks have metastasized and control more than half of the banking system. G-S provided “safer and more effective use of the assets of banks” and prevented the “undue diversion of funds into speculative operations”.
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