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Glass-Steagall is the New Deal legislation that prohibited commercial banks from risking depositors’ money in speculative investments. By repealing it, Bill Clinton set the stage for the 2008 economic meltdown – caused mainly by banks’ speculative investments.
by Eric Zuesse
On July 18th, Rob Nichols, the President of the American Bankers’ Association, which is controlled by the mega-banks, struck back against Republican Presidential candidate Donald Trump. Nichols criticized Trump’s insistence to restore the Democratic U.S. President Franklin Delano Roosevelt’s top reform of the U.S. economy, the Glass-Steagall Act, which prevented another taxpayer bailout of Wall Street firms for their gambling losses — it was the law President Bill Clinton with overwhelming Republican support in 1999 repealed. Trump is committing himself against that Clinton-Republican repeal of FDR’s law. Trump insists it be restored so that there won’t be a repeat of the Bush-Obama Wall Street bailout.
ABA chief Nichols told Morning Consult, “America’s banking industry is well poised to fuel economic growth and job creation,” and so they should continue to be supported by the government. He called Trump’s stand to restore Glass-Steagall:
a return to Depression-era regulation…
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The Most Revolutionary Act 
Can we expect Hillary to back a restoration of Glass-Steagall when her son in law is a high priest investment banker at Goldman Sachs, and, Wall Street money helped pay for her campaign war chest? Why is America the only developed nation in the West that does not have publicly financed elections, and why don’t more Americans know this?
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Absolutely no fucking way. She’s also going to sign TPP, which is why Trump made an issue of it in his acceptance speech. I assume your last question (re publicly financed elections) is rhetorical.
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