Glass-Steagell was repealed in 1999 with Sen. Orrin Hatch's "yea" vote. Because of this vote we had not only 2007-2008 hit us, but now we see JP Morgan Chase lose over $2 billion because they have become both a commercial and investment bank. This should never have been allowed.
TARP was implemented because these same banks are too big to fail and their mistakes made them, and our economy, vulnerable to collapse.
Hatch wants another term to change things. We need a fresh perspective.
Paul J. Chappell
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