Tag: troubled banks

Call the Pope because hell is freezing over: Senators John McCain and Maria Cantwell are joining forces to reinstate the Depression-era Glass-Steagal [sic] Act of 1933, which separated commercial banking from Wall Street investment banking. According to Newsweek, the two plan to announce the bipartisan McCain-Cantwell bill on Wednesday morning. The Glass-Steagall law was repealed […]

The TARP was passed as an emergency life line to troubled banks, but read this: A small but growing number of community banks are backing out of the government’s bailout, which they see as fraught with hidden strings and government interference. About 20 banks so far that applied for or had been approved to receive […]