GOP platform of reinstating Glass-Steagall: Any problems of bank can be resolved through the bankruptcy code

platform

Slate:

On Monday morning, Republican convention organizers handed out draft text of the platform, and the section on banking includes nothing on bringing back Glass-Steagall. Instead, it spends a lot of time calling on Congress to curtail the Consumer Financial Protection Bureau’s powers, then says:

Republicans believe that no financial institution is too big to fail. We support legislation to ensure that the problems of any financial institution can be resolved through the bankruptcy code. [Note: Dodd-Frank has this. It’s called the living will provision.] We endorse prudent regulation father banking system to ensure that FDIC-regulated banks are properly capitalized [Note: Dodd-Frank also has this] and taxpayers are protected on bailouts. We will end the government’s use of disparite impact theory in enforcing anti-discrimination laws with regard to lending.

And of course, the RNC blasted the final draft of the platform. Obviously, Paul Manafort, Trump’s top head minion, did think this through. Manafort stated that the Glass-Steagall bill needs to be brought back because Dodd-Frank has been a burden on small banks.

2 responses to “GOP platform of reinstating Glass-Steagall: Any problems of bank can be resolved through the bankruptcy code

  1. I’m confused – is it in or out? Or still in Trump’s campaign top of mind?

    Aloha, Ginny From my iPad.

    >

  2. Rest assured that the GOP platform to reinstate Glass-Steagall was not Donald Trump’s idea but his campaign to pander to some of Sanders’ supporters that are anti-Hillary. Trump never discuss the Glass-Steagall in any of his debates nor his campaign stumps. Trump is for dismantling the Dodd-Frank bill. This platform is to politically lure Sanders’ supporters to Trump. Trump can’t depend only on the GOP voters to win the Presidency.

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