2016 Postmortem
In reply to the discussion: Elizabeth Warren PRAISES Bernie Sanders' Wall Street Speech [View all]jwirr
(39,215 posts)Hillary thinks we need legislation the stop the risky gambling from being risky. She is wrong. Wall Street gambling has always been risky. 1928 and 2008 are examples of it.
And Glass-Steagall never addressed that problem. It addressed the issue of who's money would be used to gamble in the Wall Street. It made depositing in commercial banks less risky than depositing in investment banks of today.
Hillary very clearly shows us that she is not worried about our little deposits but instead is looking out for the big investment banks that use our money to make money for the rich.
She also seems to miss the point that if the big banks continue to exist it will be the little guy (taxpayer) who will get to bail them out at the same time that little taxpayer will be losing his/her shirt without any hope of bailout or protection from FDIC.
I do not know if Hillary is willfully blind to this or if she is just so out of touch that she truly misses it.