“A new Glass-Steagall Act would create a more diverse and competitive banking system by breaking up universal banks”

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Canada has for instance has 5 major banks and yet an extremely stable regime. The concept that a diverse banking system is inherently desirable is a large assumption. Glass-Steagall had a set of banking regulations which were of course repealed and led to the 2008 crisis. There’s a pretty strong argument that stronger regulatory environments are safer and better for the consumer.


Additional regs only ever benefit the people with the power to lobby. The big banks probably wrote the bill in the first place. What do you wanna be they slip something in to prevent issues like the GME short squeeze in the future?


How about remove the fed? Or remove it’s mandates instead.