Since we are getting one of the periodic episodes of #GlassSteagall nostalgia in the USA, it's good to remember that the entities at the center of the #2008crisis did NOTHING that would have been prohibited by GlassSteagal which was a weak compromise in the first place and had been totally bypassed by changes in finance.

#DoddFrank is NOT #GlassSteagall
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Dodd-Frank is not going to prevent future crisis, and will be subject to being degraded, because that’s what it’s designed for.
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Glass-Steagall was enacted in 1933 separating investment banking from commercial banking until Clinton signed its repeal in 1999.
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Dodd-Frank is fiddling still letting banks gamble w/deposits
#SVB #banking #banjs #economy

https://billmoyers.com/content/glass-steagall-dodd-frank-and-the-volcker-rule-a-primer-and-resources/

#DoddFrank is NOT #GlassSteagall
.
Dodd-Frank is not going to prevent future crisis, and will be subject to being degraded, because that’s what it’s designed for.
.
Glass-Steagall was enacted in 1933 separating investment banking from commercial banking until Clinton signed its repeal in 1999.
.
Dodd-Frank is fiddling still letting commercial banks gamble
#SVB #banking #banjs #economy

https://billmoyers.com/content/glass-steagall-dodd-frank-and-the-volcker-rule-a-primer-and-resources/

#DoddFrank is NOT #GlassSteagall
.
Dodd-Frank is not going to prevent future crisis, and will be subject to being degraded, because that’s what it’s designed for.
.
Glass-Steagall was enacted in 1933 separating investment banking from commercial banking until Clinton signed its repeal in 1999.
.
Dodd-Frank is fiddling around the edges while still letting commercial banks gamble with deposits.
#SVB #banking #banjs #economy

@ariadne @rbreich This overbalance of #profits in #finance is worrisome. Where is the base this is built on? #Banks #BankingSystem #Capitalism #USPolitics #Deregulation #RobertReich #GlassSteagall

@atomic @mshiltonj What they learned in 2008: a bunch of money could be “made” at the expense of others and that they could get away with it. Why wouldn’t they try it again when it worked so well AND uneducated voters allowed the predators to rewrite the rules in 2018? #trump #vote #grifter #ConMan #GlassSteagall #DoddFrank

Maybe pass a law to forbid banks making speculative investments with depositors money. #banking #bank #svb

Oh wait, we used to have that law! Let's add it back.

https://www.thestreet.com/dictionary/g/glass-steagall-act #glasssteagall

Fucking do it already.

blame those fucking thieves who don't like being told to get their greedy hands out of OUR pockets: blame trump. blame thiel. blame musk.

#SVB #SiliconValleyBank #BankCrash #BankofAmerica #InterestRates #GlassSteagall https://www.newsweek.com/trump-era-roll-back-bank-regulations-resurfaces-amid-svb-collapse-1787112

and the rich gambler-thieves get richer & leave taxpayers to cover all their losses

protect us by re-enacting #GlassSteagall now

via @Bloomberg

#SVPCollapse #SiliconValleyBank #PeterThiel https://www.bloomberg.com/news/articles/2023-03-11/thiel-s-founders-fund-withdrew-millions-from-silicon-valley-bank