Breaking up big banks through Glass-Steagall is an absurd idea
According to recent news reports, Gary Cohn, a key White House economic advisor, supports splitting up the nation's largest banks in a manner suggestive of restoring the Glass-Steagall Act, which Congress largely repealed in 1999. Reinstating Glass-Steagall is a fundamentally absurd idea because no rational case can be made for doing so. Foreclosure News