Friday, October 21, 2011

Banking for The New Century

As with so many things nowadays, these quotes re: the replacement of the Glass-Steagall Act with deregulation require no comment from me:

‎''The concerns that we will have a meltdown like 1929 are dramatically overblown.'' - Senator Bob Kerry

''I think we will look back in 10 years' time and say we should not have done this but we did because we forgot the lessons of the past, and that that which is true in the 1930's is true in 2010.'' - Senator Byron L. Dorgan

''If we don't pass this bill, we could find London or Frankfurt or years down the road Shanghai becoming the financial capital of the world.''  - Senator Chuck Schumer

''Today Congress voted to update the rules that have governed financial services since the Great Depression and replace them with a system for the 21st century.'' -Treasury Secretary Lawrence H. Summers

Oh, what the hell, just one comment, one you've heard from about any flight attendant you can think of: "Please keep your seat belts securely fastened."