http://blogs.reuters.com/reuters-dealzone/2009/12/17/reinventing-glass-steagall/ Behind the deals and deal-makers Tue, 18 Jun 2013 03:36:50 +0000 hourly 1 http://wordpress.org/?v=3.4.2 http://blogs.reuters.com/reuters-dealzone/2009/12/17/reinventing-glass-steagall/comment-page-1/#comment-350649 afisher Thu, 17 Dec 2009 18:07:15 +0000 http://blogs.reuters.com/reuters-dealzone/?p=18276#comment-350649 It may be impossible to put that "genie back in the bottle", but the government needs to enact some meaningful legislation that forces these financial institutions to be responsible for themselves. The public certainly has not benefitted from all the money given to these institutions. Naysayers to any regulation will counter that this money kept us from a depression, but they fail to show how any but the finanacial institutions have gained. The FED now hides all the Toxic Assets within its (hidden) balance sheets and somehow thinks we who are actually paying for this bailout will forget. Durbin may have been 100% correct when he stated that Wall Street runs the government. A very sad state of affairs for a once great nation. It may be impossible to put that “genie back in the bottle”, but the government needs to enact some meaningful legislation that forces these financial institutions to be responsible for themselves. The public certainly has not benefitted from all the money given to these institutions. Naysayers to any regulation will counter that this money kept us from a depression, but they fail to show how any but the finanacial institutions have gained. The FED now hides all the Toxic Assets within its (hidden) balance sheets and somehow thinks we who are actually paying for this bailout will forget. Durbin may have been 100% correct when he stated that Wall Street runs the government. A very sad state of affairs for a once great nation.

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