Wednesday, April 28, 2010

When Regulation Isn't Enough

By Jay Diamond
April 28, 2010

Back in 1999 on a radio program I had in NYC at the time, I was stridently critical of the Gramm-Leach-Bliley Act, which was euphemistically called "The Financial Services Modernization Act of 1999" and was pushed by today’s Teabagging maestro, Dick Armey.

Read on.

1 comment:

Anonymous said...

Wall Street and world finance in general thrive on the ability to sell debt. Debt, goes the argument, is necessary for economic growth. However, economic growth as we know it is unsustainable. Alternatives to debt and unsustainable growth include cooperative ventures and risk sharing in terms of wealth, which is not some financial "instrument."