Tuesday, January 04, 2011

Regulators Resist Volcker Wandering Warning of Too-Big-to-Fail
“I wouldn’t lend you a dime if I knew you loved to gamble at a casino,” said Kahn, the chairman of investment advisers Kahn Brothers Group Inc., in an interview..

..“I’m sorry,” Reed, 70, said in an interview. U.S. lawmakers were wrong in 1999 to repeal the Depression-era Glass- Steagall Act, he said. The act required the separation of institutions involved in capital markets from those engaged primarily in traditional customer services, such as taking deposits and making loans..

..“My greatest fear for the last year has been an economic collapse as bad as the Great Depression,” Miller said in an interview. “My second greatest fear was that the economy would stabilize and begin to recover and the financial industry would have the clout to defeat the fundamental reforms that our nation desperately needs. My greatest fear seems less likely, lately, but my second greatest fear seems more likely every day.”

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