When (predictably) asked by socialist Senator Bernie Sanders (I-VT) about what additional taxes and regulations should be dumped on our nation’s financial system, Fed Chairman Bernanke made a remarkable statement, which flies in the face of current liberal dogma:
“I think Glass-Steagall is not the solution because, as we saw in the crisis, investment banks and commercial banks separately got into trouble.”
Just last week, Senator Tom Harkin (D-IA) introduced a bill to bring back Glass-Steagall. I guess The Bernanke just stuck a fork in that one…
Bernanke went on to suggest that a primary way to deal with “too big to fail” is to require higher capital requirements for larger banks.
Notice to Readers: The American Spectator and Spectator World are marks used by independent publishing companies that are not affiliated in any way. If you are looking for The Spectator World please click on the following link: https://thespectator.com/world.