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Web Letter

The most obvious New Deal counter to the current financial crisis is the Glass-Steagall Act. It limited banks' ability to make risky investments and to consolidate, but this act was eliminated in 1999--at the urging of the GOP, yes, but also at the suggestion of Clinton economic guru Robert Rubin. If Glass-Steagall were still in place, the current meltown likely would be much less extensive. Please make this fact known.

Julie Leininger Pycior

Hastings-on-Hudson, New York

Mar 23 2008 - 11:11pm