Alan Greenspan admitting that deregulation, repealing Glass-Steagall in 1999, and derivatives were a complete failure in his testimony amidst "the breakdown at the central pillar of competitive markets" of the Financial Crisis of 2008

  • Banks were leveraged on January 28, 2021 - Charles Schwab is TD Ameritrade (they shut down GME first) & Merrill is Bank of America

Although not directly (hear me out): logically. If his sentiment in this statement is true (Banks & others are not best capable of protecting their own shareholders), then he necessarily agrees with the central tenant of Glass-Steagall passed after regulators made his mistake in the 1920s. There mistake, which is the same as his, caused black Tuesday in 1929 & starting the Great Depression. They corrected this mistake for future generation in 1933 by setting up a firewall between investment and commercial banking. Risky Money ||||| Safe Money - and never the two shall meet.

  • We live in his mistake right now.

  • Who knows what Banks are leveraged with FTX.

  • Everyone can have their fun on the stock market, but Joe Hammer needs to be able to have a safe place to put his money if he doesn't give a shit about stocks.

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