“a 21st Century Glass-Steagall Act”
That’s should be the first clue right there, the 21st Century qualifier.
Recall the “Modernization” qualifier in the Financial Services Modernization Act that repealed Glass-Steagall.
I’m certain that Clinton, the lord ruling over the DNC, and her corporate governance cohorts in the Democratic Party, would NEVER allow any return to the regulatory framework of Glass-Steagall. Because, you know, it is just so last century.
Also, recall the “modernization” qualifier in the Commodity Futures Modernization Act which of course simply sought to “modernize” over counter derivatives. I mean, those regulations on derivatives were just so archaic, those Modern Thinkers in the banking and financial services corporations could never have pulled off the housing bubble scam, that was really really “modern”.
I’m not pointing a finger at Sanders here, but Sanders needs to explain what the “21st Century” qualifier means in relation to a restoration of Glass-Steagall.
Surely the kind of “21st Century” qualifier that Clinton would approve of would allow Citigroup to remain in tact, otherwise those damn archaic provisions in Glass-Steagall wouldn’t have allowed the merger that brought about Citigroup to have happened in the first place.
I’m so sick of the bullshit.