Web Letters: Democratizing Capital

By Sherle R. Schwenninger

This article appeared in the April 7, 2008 edition of The Nation.

March 20, 2008

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  • 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

    03/23/2008 @ 11:11pm


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