...coming out of the Great Depression, just three laws fundamentally altered the course of America's history.
The first one, FDIC insurance, made it safe to put money in banks. The second one, Glass-Steagal, tried to separate the risk-taking on Wall Street from your local community bank. And the third one, SEC regulations, provide some cops to watch the robbers. And so, out of that, what we got was 50 years of economic peace. No financial panics, no meltdowns. And during that 50 years, we built a strong and prosperous middle class in America...
So during what Krugman calls the Great Unraveling, these were precisely the laws that had to go.
Of course, Bu$h v.2 only accelerated what Bu$h v.1 started, Clinton v.1 propagated, and Summers (beta testing for Clinton v.2) continues to back.
Not that a President from the Chicago School thinks any differently.
So Dr. Warren, I reiterate: these are not your friends that surround you. Stay off of small airplanes. Don't ride in any convertibles in Dallas, either, madam. We need your voice.