Restoring Glass-Steagall:
"Restoring Glass-Steagall is such an obvious move that one has to wonder why it is not being more seriously considered. Granted, it took a multi-year lobbying effort and the expenditure of many millions of dollar to subvert a national regulatory and political process to overturn it, largely led by Sandy Weill of Citigroup. Frontline: The Long Demise of Glass-Steagall."
For those of you that are into this type of thing, this is a great article from a blog with an International Flair.
The merging of investment and savings banks was one of the many things that contributed to "the perfect storm" that caused this financial mess. Once that was done, the new "banks" could take on as much investment risk as they wanted because they were now backed by the Fed and FDIC (read; our tax dollars).
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