Posted 11 years ago on Oct. 17, 2011, 7:51 p.m. EST by chunking
from San Diego, CA
This content is user submitted and not an official statement
The reinstatement of Glass-Steagall is a no-brainer that many inside and outside this movement have been calling for. We don't want banks using their "too big to fail" mantra on us into eternity, while they are making risky bets and using the taxpayer as a backstop. However, while this provides a firewall between two styles of banking, it does not address other issues, such as: raising of reserve requirements, limits on leverage, and regulations pertaining to rating agencies.
Is it the purpose of Article 5 "CONGRESS COMPLETELY REVAMP THE SECURITIES AND EXCHANGE COMMISSION" to address the rest of these issues?
Where are these other regulatory issues addressed in the occupy wall street plan? The repeal of Glass Steagall was one part of a series of complex causes to the current financial crisis.
Thanks, Concerned about Plan