Confirmed: Glass-Steagall in Republican Platform
July 18, 2016 (EIRNS)—A top GOP spokesman told reporters today that the Republican Party platform will include language advocating for a return to a Glass-Steagall standard of financial regulation.
"We also call for a reintroduction of Glass-Steagall, which created barriers between what big banks can do," said Paul Manafort, presumptive Republican presidential nominee Donald Trump’s campaign manager, at the press briefing today.
This puts the re-regulation of Wall Street at the center of the financial "planks" of both parties’ platforms. Not only is it an affirmation that Wall Street is still seen as "domestic enemy number one." It points to the broad failure of the Obama plan, centered on the useless Dodd-Frank bill, and the broad, anti-Wall Street public support generated for the Glass-Steagall legislation since the last Presidential election in 2012.
It remains to be seen whether Trump will now use this as a cudgel with which to bash Hillary Clinton, who has steadfastly refused to endorse it.