Everything Old Is New

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Like, say, the Glass-Steagall Act of 1933?

Commercial banks should be separated from investment banks in order to avoid another crisis like the U.S. is experiencing, according to former Federal Reserve Chairman Paul Volcker.
"Maybe we ought to have a kind of two-tier financial system," Volcker, who heads President Barack Obama's Economic Recovery Advisory Board, said today at a conference at New York University's Stern School of Business.

Volcker Urges Dividing Investment, Commercial Banks [Bloomberg]

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