Time to hold Trump’s and the Republicans’ feet to the fire over their campaign promises.
Donald Trump and the Republican Platform Called for Restoring Glass-Steagall and Breaking Up the Too Big to Fails
The Republican platform under Donald Trump called for restoring the Glass-Steagall separation between traditional depository banking and speculative investment banking. Trump himself has called for it.
This would lead to the break up of the giant banks.
The New York Times explains:
The Republican Party platform calls for breaking up the large banks by restoring the New Deal-era Glass-Steagall Act, which required a separation of investment from commercial banking.
The People Want Them Broken Up
As Minneapolis Fed President Kaskari points out, a lot of the populist anger which got Donald Trump elected is based on allowing the too big to fail banks to survive:
Mr. Kashkari said he traced some of the nation?s current political anger and polarization to how the government responded to the financial crisis ?…
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