Structural Reforms to Strengthen the Competitiveness and Stability of Our Financial System

Arthur Wilmarth argues that we must revive the wisdom of the New Deal era Glass-Steagall Act and again separate banks from the securities markets and commercial ventures. Federal bailouts of failing entities must be limited in the future to banks conducting a traditional banking business, rather than bailouts that extend broadly to protect securities activities and commercial ventures. Continuing overbroad bailouts will produce a “doom loop” that threatens the stability of our financial system and our economy.
Professor Wilmarth’s Powerpoint slides and a reading list are posted on DCConsumerrightscoalition.org
Please note, the positions and opinions expressed by the speakers are strictly their own, and do not necessarily represent the views of their employers, nor those of the D.C. Bar, its Board of Governors or co-sponsoring Communities and organizations.