the US needs to unrepeal the
Glass-Steagal Act
*or not, please discuss)
Commercial banks need to stick with commercial banking. Investment banks need to stick with investment banking, Securities banks etc...No more “orgies” constructed/organized/coerced by government. Derivatives are fine and risk taking should not be prevented, but only in institutions that know what they are doing and are skilled at doing.
Yes, never should have let commercial banks get into investment banking. Corrupts the concept of sound money.
Everything becomes financial speculation.