The latter’s package of Wall Street reforms have managed to contain at least some of the worst risk-taking behavior. Sandy Weill, chief architect of Citigroup’s pre-crash takeover spree, has wished that Glass-Steagall was back and called for the breakup of the big banks. Nor, I suspect, does anyone remember that we had systemic shocks and came close to the complete collapses of the financial system prior to the financial crisis. But with anger at Wall Street risk-taking and financial elites now running high on both sides of the aisle, nuances like that are less significant. Yes, Republican presidential candidate Trump and none other than Elizabeth Warren, his arch-nemesis on Twitter, have agreed on a policy initiative: the need to restore Glass-Steagall.

Source: The Guardian July 21, 2016 12:00 UTC