Breaking Up Big Banks: The Only Way to Stop a Crash | Graham Elwood

543 views · Published 5 June 2018 · 8:31 · Indexed 26 September 2026

Channel: Graham Elwood · 2018 · News & Politics

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Breaking Up Big Banks: The Only Way to Stop a Crash | Graham Elwood

This discussion examines Robert Reich's TruthDig column on Wall Street deregulation, the watering down of the Volcker Rule, the legacy of Glass-Steagall, and why breaking up the biggest banks is essential to preventing another financial crash.
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📚 Sources & Further Reading:
This video is based on Robert Reich's economic commentary via Truthdig.
1. Truthdig - Robert Reich on Breaking Up Big Banks: https://www.truthdig.com/
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In this video I discuss the following: 
✅ Robert Reich's article on federal regulators weakening the Volcker Rule and allowing Wall Street riskier bets.
✅ The history of the Glass-Steagall Act, its repeal in 1999 under Bill Clinton, and the 2008 financial crisis.
✅ Why big banks are larger than ever, the inevitability of another crash without breaking them up, and tour announcements.

⏳ Timestamps: 
00:00 Introduction: Wall Street regulation, federal regulators watering down the Volcker Rule, and Robert Reich's Truthdig column
01:30 Background on the Glass-Steagall Act, its 1999 repeal under Bill Clinton, and the origins of the 2008 financial crash
03:45 Bank consolidation, bailouts, political corruption in both parties, and corporate greed
05:30 Antitrust legislation, the need to break up mega-banks, and the political outlook for economic reform
07:15 Progressive Comedy Tour announcements: dates for Nashville, Huntsville, Asheville, Louisville, and Atlanta

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