The Trump administration is trying to trick people into thinking it's cracking down on Wall Street
Bob Bryan at Business Insider
http://www.businessinsider.com/trump-mnuchin-glass-steagall-wall-street-bank-regulation-2017-5
"SNIP..............
Mnuchin continually said that the administration supports a "21st Century Glass-Steagall," referring to the Depression-era bill that required commercial and investment banks to remain separate.
Except for the law's defining aspect.
"We do think there are potential things we could look at around regulation, but we do not support separation of banks and investment banks," Mnuchin said.
A flabbergasted Senator Elizabeth Warren pointed out that Glass-Steagall is best known for the separation of the two types of banks.
"There are aspects of Glass-Steagall that you support, but not breaking up the banks and separating commercial banking from investment banking?" Warren asked. "What do you think Glass-Steagall was if that's not right at the heart of it?"
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