paul craig roberts is a powerful thinker I think he was a senior admin in Regean Cabinet
Correction, he USED to be a powerful thinker, then Bush Derangement Syndrone drove him nuts.
THE primary study of Glass-Steagall shows that it was based on 100% wrong premises. The idea was that in the Roaring 20s banks had brokerage companies that poured depositor money into the market, weakening the banks thus accelerating the bust.
No.
Eugene White found just the opposite—that banks with brokerages were the leadt likely to fail & were stronger because they diversified their assets. Think of S&Ks in 1970s, stuck in fixed mortgages when interest rates skyrocketed. They had no diversification of assets.
G-S would weaken the banks & make another crash easier.