Free Republic

In an op-ed published in the Financial Times, John Reed says large banks like the one he used to run are now "inherently unstable and unworkable." The man who was one of the chief architects of the "Big Bank" model now says says the United States never should have repealed the Glass-Steagall banking act in 1999. That's exactly what Democratic presidential hopefuls Bernie Sanders and Martin O'Malley have been arguing on the campaign trail. They want the law reinstated. Hillary Clinton and the Republican candidates do not. As CEO of Citi from 1984 to 2000, Reed was one of the...

Last night, all five Democrats running for president spoke at the Iowa Democratic Party’s Hall of Fame Dinner, broadcast on CSPAN. Hillary Clinton’s speech might as well have been titled, “I Am Woman.” That ain’t gonna work, sister.Hillary’s entire speech was about how she’s a woman. Her mother was a woman. Her daughter is a woman. Her granddaughter will be a woman. Thus, vote for me, a woman. She even bragged she’s gonna keep talking about her bein’ a woman, “get used to it it’s a long campaign!” The brain dead brain trust around her has clearly decided she...

Sens. Elizabeth Warren (D-Mass.) and John McCain (R-Ariz.) are reintroducing legislation to revive the Glass-Steagall Act, which would force big banks to split their investment and commercial banking practices. Glass-Steagall was first passed in 1933 but repealed during the Clinton administration, leading many progressives to argue that it contributed to the 2008 financial collapse. Warren and McCain, along with their cosponsors, Sens. Angus King (I-Maine) and Maria Cantwell (D-Wash.), said in a statement that the legislation would make big banks that are "too big to fail" smaller and safer and minimize the likelihood of a government bailout....

Over the last several weeks we have heard Congress caterwauling, stonewalling, stalling and wailing about so called "bank reform". So, cover your eyes and get the kids of out the room because this is about to become bi-partisan.* Here it is: According to both parties- I know you'll find this hard to believe- banks apparently aren't reformed enough. Yes, the problem that Barney-Frank and Chris-Dodd supposedly fixed with huge Democrat majorities from 2000-Obama to 2000-O'Tea Party, apparently isn't fixed, both Democrats and Republicans agree. For example, the other day we heard Barney-Frank both defend and condemn the Dodd-Frank banking reform...

The White House official whom Bob Woodward charged had crosssed a line by saying he would "regret" printing his version of a set of Washington negotiations was Gene Sperling, the director of the White House Economic Council, a source familiar with the exchange told BuzzFeed Wednesday. The email from Sperling to Woodward, which Woodward read to Politico Wednesday, has transfixed Washington, with Republicans and some in the press charging that it embodies a White House lording it over a cowed press corps. Woodward, Politico reported, called the top official — identified to BuzzFeed as Sperling — to tell him that...

Amid the public defecators, the American haters, the exhibitionist masturbators, the serial sexual predators, the outspoken anti-Semites, the socialists and the misguided do-gooders of Occupy Wall Street are the Hollywood hypocrites. You have Susan Sarandon, Michael Moore, Princeton professor Cornell West, Russell Simmons, Rosanne Barr, and the list goes on. They have all joined the “occupiers” in support of fighting greed. But by any definition, they epitomize it. Not that there is necessarily a problem with greed. Greed, if defined as acting in one’s self interest in the pursuit of material goods, can be enormously important and beneficial. It makes...

10 Years Later, Looking at Repeal of Glass-Steagall...