GlassSteagallfan
3rd August 2012, 22:15
August 3, 2012 • 2:58PM
In the wake of the LaRouchePAC mobilization for the U.S. Congress to pass Glass-Steagall legislation, Iceland has introduced Glass-Steagall legislation into the parliament. According to an article by Omar R. Valdimarsson, on Businessweek.com (http://www.businessweek.com/news/2012-08-02/post-crisis-iceland-is-test-site-for-too-big-to-fail-prevention#p1): "The Icelandic lawmaker who presented the motion, Alfheidur Ingadottir, says the best way to stop banks creating asset bubbles is to pass laws akin to the 1933 Glass-Steagall Act, which separated commercial and investment banking in the U.S. for more than six decades."
The article referenced the fact that Glass-Steagall has been gaining international traction, citing the recent case of the conversion of Sandy Weill, from the "shatterer of Glass-Steagall," to a leading advocate. LaRouchePAC has been the leading the international mobilization (http://larouchepac.com/node/19643) for Glass-Steagall, which mobilization has been echoed by a slew of international statements of endorsement, including a string of recent editorials (http://larouchepac.com/node/23481).
The Businessweek article quotes the CEO of Straumur Investment Bank hf Petur Einarsson: “If commercial and investment banking aren’t separated now, we might have to wait a long while before such an opportunity presents itself again...”
Source: http://larouchepac.com/node/23549
In the wake of the LaRouchePAC mobilization for the U.S. Congress to pass Glass-Steagall legislation, Iceland has introduced Glass-Steagall legislation into the parliament. According to an article by Omar R. Valdimarsson, on Businessweek.com (http://www.businessweek.com/news/2012-08-02/post-crisis-iceland-is-test-site-for-too-big-to-fail-prevention#p1): "The Icelandic lawmaker who presented the motion, Alfheidur Ingadottir, says the best way to stop banks creating asset bubbles is to pass laws akin to the 1933 Glass-Steagall Act, which separated commercial and investment banking in the U.S. for more than six decades."
The article referenced the fact that Glass-Steagall has been gaining international traction, citing the recent case of the conversion of Sandy Weill, from the "shatterer of Glass-Steagall," to a leading advocate. LaRouchePAC has been the leading the international mobilization (http://larouchepac.com/node/19643) for Glass-Steagall, which mobilization has been echoed by a slew of international statements of endorsement, including a string of recent editorials (http://larouchepac.com/node/23481).
The Businessweek article quotes the CEO of Straumur Investment Bank hf Petur Einarsson: “If commercial and investment banking aren’t separated now, we might have to wait a long while before such an opportunity presents itself again...”
Source: http://larouchepac.com/node/23549