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Hillary Clinton won’t propose reinstating a bank break-up law known as the Glass-Steagall Act

Hillary Clinton will not propose to reinstate the bank break-up law known as the Glass-Steagall Act states Alan Blinder an economist and adviser to her campaign. That is not surprising when you consider that it was Bill Clinton that signed legislation repealing the Glass-Steagall Act in 1999 as the big Wall Street banks requested.

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Hillary Clinton won’t propose reinstating a bank break-up law known as the Glass-Steagall Act – at least according to Alan Blinder, an economist who has been advising Clinton’s campaign. “You’re not going to see Glass-Steagall,” Blinder saidafter her economic speech Monday in which she failed to mention it. Blinder said he had spoken to Clinton directly about Glass-Steagall.

This is a big mistake.

It’s a mistake politically because people who believe Hillary Clinton is still too close to Wall Street will not be reassured by her position on Glass-Steagall. Many will recall that her husband led the way to repealing Glass Steagall in 1999 at the request of the big Wall Street banks.

It’s a big mistake economically because the repeal of Glass-Steagall led directly to the 2008 Wall Street crash, and without it we’re in danger of another one.

Read on.

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