A Quote by John Gutfreund
I thought that ending Glass-Steagall was a mistake.
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The administration will look at Glass-Steagall and what I referred to as the 21st-century Glass-Steagall as part of regulatory reform.
I think former President Clinton and even Newt Gingrich have said it was a mistake to repeal Glass Steagall.
I don't support going back to Glass-Steagall as is.
On the Glass-Steagall thing, like I said, if you could demonstrate to me that it was a mistake, I'd be glad to look at the evidence. But I can't blame [the Republicans]. This wasn't something they forced me into. I really believed that given the level of oversight of banks and their ability to have more patient capital, if you made it possible for [banks] to go into the investment banking business as continental European investment banks could always do, that it might give us a more stable source of long-term investment.
I'd like to sit down with Hillary Clinton onstage and ask her about Glass Steagall and all the big banks and her own campaign contributions.
The 21st Century Glass-Steagall Act will reestablish a wall between commercial and investment banking, make our financial system more stable and secure, and protect American families.
I have great respect for Senator [Bernie] Sanders's commitment to try to restore Glass-Steagall. But I do not believe that that is enough. And in fact, I don't believe it really addresses a lot of the biggest issues we have.
I would say that folks who have looked at this issue for a long time, whether it's Elizabeth Warren or many other economists, will tell you that right now, yes, we do need a 21st century Glass-Steagall legislation.
Separating out banks and investment banks right now under Glass-Steagall would have very big implications to the liquidity and the capital markets and banks being able to perform necessary lending.
Keith was just bringing the glass to his lips when Adrian said, "Mmm. O positive, my favorite." Keith sprayed out the wine he'd just drunk and promptly started coughing. I was relieved that none got on me. jill burst into giggles, and Clarence stared at his glass wonderingly. "Is it? I thought it was a cabernet sauvignon." "So it is," said Adrian, straight-faced. "My mistake.
Since JPMorgan Chase announced its surprise $2 billion-and-growing trading loss, there have been renewed calls from economists, pundits, and politicians to reinstate the Glass-Steagall Act, a Depression-era law that prevented commercial banks from participating in investment banking activities.
Should we think about separating the investment banks from the commercial banks, a new Glass-Steagall? I would be really excited to see that. I think it would be great for the economy.
Tea Party people know that I stood against the Wall Street scam from Day One, that I voted against TARP, that I voted against repealing Glass-Steagall Act that kept these guys under some control.
A big mistake a lot of filmmakers do is they like, "We cut our whole ending to a Rolling Stones song." You better find a new ending then, because unless you have $2 million for that song.
Certainly, some of the anti-bank rhetoric has shifted a little bit, but on either side of the aisle, there seems to be different tacts. On one side of the aisle, you see a proposed scaling back of Dodd-Frank. On the other, a proposed reinstatement of Glass-Steagall.
Ending torture and tyranny in Iraq was not a mistake. Supporting democracy in Iraq is not a mistake. Helping the long-suffering Muslims of Iraq who now seek to live democratically is not a mistake. In the long, long history of the Middle East, this breakthrough may one day be ranked as a dramatic turning point in regional history.
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