Too Big To Fail Banks and the Glass-Steagall Act
The Glass-Steagall Act was a safeguard to prevent banks from becoming too big to fail and irresponsible. It's repeal about a decade before the banking debacle may have set us up for the economic collapse. Sean Stone talks to Paul Gallagher about the banking system and how to break its addiction to Federal Reserve money. GUEST INFO: Paul Gallagher works with the executive intelligence review at LaRouche Publications. ADD'L LINKS: larouchepac.com/ larouchepac.com/glass-steagall Buzzsaw full episodes playlist: www.youtube.com/watch?v=RW4TYOnlg0w&list=PLjk3H0GXhhGc7NOFr74KbOPBCXrXT8nlf&index=1 Buzzsaw Shorts Playlist: www.youtube.com/watch?v=OTpYzcRoyrw&list=PLjk3H0GXhhGe43WJvnvzBPLaJrRVSUmxb www.facebook.com/pages/Buzzsaw/315063551949301?directed_target_id=0 www.facebook.com/thelip.tv EPISODE BREAKDOWN: 00:01 Welcome to Buzzsaw. 00:10 The Glass-Steagall Act banking oversight. 01:15 Welcoming Paul Gallagher. 01:37 What Glass-Steagall did, why it was necessary, and Citibank's history. 05:07 Bailing out Lehman Brothers and continued resistance to Glass-Steagall. 08:10 Too big to fail? 11:15 The outlook for Europe. 18:47 Banks dependent on the federal reserve. 23:10 Money not circulating and banks bracing for another crash.
