I was amused this morning listening to the Market Report on NPR when I heard a commentator suggest that it “may be time to dust off the Glass-Steagall Act” to deal with the ongoing banking fiascoes which have caused us naught but grief since…
Well, this time around since 2008, but frankly since about 1982 when the first of a long series of financial sector deregulatory actions began under the misguided assumptions of Reaganomics and the hypnotic appeal of the Laffer Curve.
Don’t know what the Laffer Curve is? Well, it was the brainchild of a man named Arthur Laffer, an economist, who came up with it and presented originally to President Ford. …