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Tag: Glass Steagall Act

Why Doesn’t Jack Lew Support the New Glass-Steagall Act? Money Morning

You’d think that in the wake of the Great Collapse of 2008, reviving the Glass-Steagall Act would be a no-brainer.

As it happens, there are quite a few powerful members of government who oppose it, including Treasury Secretary Jack Lew, who seems to be pushing Dodd-Frank and the Volcker Rule a little too hard as the only regulation that’s needed to keep the banks from making bad bets in toxic derivatives again.