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Thank you so much I'm finally starting to understand. But can you elaborate on the ways the money would be frittered away had the Glass Steagall not been repealed? This is so interesting to me!
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Please elaborate on the article. I do not understand how exactly it answers the questions posted above. I also do not understand the phrase 'monetizing government debt to use as an asset to pyramid more credit'.
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Could the recession have been prevented if the Glass Steagal Act was not removed? How do you counter socialists who say Glass Steagall is necessary? I find it hard since Glass Steagall does not have any bad effects even if it is unnecessary. So is the argument against Glass Steagall is purely on principle...
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Do we need regulations like the Glass Steagall act and the regulation that replaced it? How does it help or harm the situation.