Why Hillary Clinton Won’t Prevent the Next Economic Recession

[jwirr]

8. Glass-Steagall is important to the individual depositor because it protects our money.

But there is more that needs to be done to keep us from another world-wide Great Depression. When they say the banks are too big to fail they do not mean they are incapable of failing.

What they mean is that the 6 banks we now have are so big that if one fails they will take the entire world economy down with them. This happened on a smaller scale in 2008 and we were forced to bail them out to stop the total collapse. In order to stop them for forcing us to bail them out again they need to be broken up into smaller banks that if they collapse will not threaten the world and will not require us to bail them out again. Glass-Steagall is just the first step.