About Us

Capt. JG

"Gogarty" wrote in message
...
In article ,
says...

Yeah, Canada is a world leader in economics and banking. All five banks.

Yep. All five SOUND banks. Used to be 15,000 individual banks in the USA.
They
were kept honest by their local regulators and since the '30s were
forbidden
to be investment banks. In many states, i.e., Texas and Illinois, they
were
not even permitted to have branches and a stand-alone ATM was considered a
branch.It worked just fine. But the ABA finally prevailed on the
Republicans
to repeal Glass/Steagall, lots of other stuff went by the board (boat
reference) and the rest is disaster. You can quibbble about the details
but
that's the long and the short of it. So now you have the surviving
investment
banks turning themselves into deposit-taking commercial banks for their
own
protection -- under much more stringent regulation. They have fled to the
protective embrace of -- can it really be? -- THE GUMMINT!

When in doubt, blame the Democrats. That's the right-wingnuts' mantra... I
think they think it had something to do with Bill Clinton's blow job.

--
"j" ganz @@
www.sailnow.com

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