PETA Shrieks Like Thousand Banshees As Kanjorski Recommends Chopping Of Squid Tentacles
Rep Kanjorski is out with a simple recommendation: give the council of regulators the power to unwind any bank deemed too big to fail (of course, if the council is made up of the Federal Reserve subsidiary of Goldman Sachs alone, this is probably a moot point). With Goldman set to spend massive lobbying dollars this and next year, don't expect much traction, and/or enforceability of this action. More relevantly, Kanjorski acknowledges that repealing Glass Steagal and replacing it with the worst bill in history, Gramm-Leach-Bliley, that set us on our course of certain destruction, was a not a "good" idea.
It is time to immediately end Gramm-Leach-Bliley before it is too late.