The New York Times rambles, and mangles mortgages along the way

The New York Times rambles, and mangles mortgages along the way

Mortgage finance and mortgage regulation aren’t the paper’s strong suits

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Glass-Steagall becomes the ghost of Christmas Past

Why the law may never live again ...

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The push to revive the Glass-Steagall Act is gaining traction, but the plan also has many opponents. Glass-Steagall, before its repeal, kept banks from commingling their investment and commercial businesses. The Huffington Post explains why a revival of the old law is unlikely:

"There is no single magic bullet to stop 'too big to fail," Senator Elizabeth Warren, D-Mass., said. "But the central premise behind a 21st century Glass-Steagall is to say, 'If you want to get out there and take risks, go and do it. But what you can't do is you can't get access to FDIC-insured deposits when you do.'"

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