Bring Back Glass-Steagall - WSJ.com

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I have been wondering for some time why Obama and congress have not done this. Obama has been in office for nearly a full year now, and instead of pushing common sense regulation in response to the financial crisis, he has put it in the back burner to instead focus on economy killing entitlements such as the Healthcare Bill(s) and the Cap and Trade energy tax. He cared more about laying the blame on bankers and "too big to fail" institutions, while allowing these same institutions to consolidate and grow even larger. Now he wants what I call an "asshole tax" on the big banks (most of whom have repaid the government TARP funds PLUS INTEREST) to cover the cost of bailing out AIG and the automakers. Priorities, priorities...

The one upside to this tax: it could cause the "too big to fail" institutions to voluntarily break themselves into smaller entities, which would be a good thing