Ex-CFTC Commissioner Hopes Glass-Steagall Is Reinstated

The transcript discusses the potential reinstatement of Glass Steagall, the effectiveness of Dodd Frank and the Volcker Rule, and the impact of financial regulations on banks and investors. It explores political support and legal challenges, and considers the future of financial regulations, including the role of the CFPB and potential changes in the Senate Banking Committee.

What is one of the main reasons for considering the reinstatement of Glass Steagall?

• To address conflicts of interest in large financial institutions

• To increase the number of financial products available

• To promote international banking

• To reduce the number of small banks

What was identified as the primary cause of the 2008 financial collapse?

• High interest rates

• The mortgage bubble and credit default swaps

• Excessive government regulation

• Lack of investment opportunities

What is a potential benefit of the Volcker Rule according to the discussion?

• It encourages banks to take more risks

• It separates investment and commercial banking activities

• It completely prevents economic downturns

• It eliminates the need for Glass Steagall

Which political figures are mentioned as supporting the reinstatement of Glass Steagall?

• Senator Schumer and Senator Feinstein

• Senator McConnell and Senator Cruz

• Senator Sanders and Senator Warren

• Senator Paul and Senator Rubio

What is the current stance of the President regarding Dodd Frank?

• No changes at all

• Expansion of its provisions

• Minor adjustments around the edges

• Complete repeal

What is the role of the CFPB according to the discussion?

• To oversee corporate mergers

• To regulate international trade

• To protect consumers in financial markets

• To manage national debt

What is a key aspect of financial regulation that needs to be maintained according to the discussion?

• Elimination of capital requirements

• Transparency in trade reporting

• High-risk investment strategies

• Unregulated OTC trading