QUESTION: Marty, the Republican platform supports the return of Glass-Steagall. Is Trump for that? Thanks for all you do PL ANSWER: Yes. If there was anyone who would actually do that, it would be Trump. However, keep in mind the act would still have to get through Congress and the bankers would buy every vote […]

  QUESTION: Mr. Armstrong; In Germany DWN wrote that Cohn of Goldman Sachs is in favor of returning Glass–Steagall. This seems strange. Do you have any insight? ANSWER: Very simple. Glass–Steagall was separating investment banking from banks. Goldman Sachs is by no means a traditional bank but were always an investment bank. If you restore Glass–Steagall this […]

Hillary’s big money comes from NY bankers. Guess what? Hillary is defending the bankers as is her husband. Hillary claims she would endorse an approach that would break up large banks if they take excessive risks. That is very vague. However, Hillary has also stated bluntly that reinstating Glass-Steagall would not address the types of institutions that […]

QUESTION: If Europe is imploding, general global economy slowing and there is a liquidity crunch, Why in heaven is the Fed going to start taper in september? Because of political pressure are they going to taper/rise rates and leave the Banks on their own with prop.trading? Has the Fed decided to really clean the system? Thank you […]

There are a group of Senators who want to bring back Glass-Steagall separating commercial banks from investment banks. That was removed by Goldman Sachs’ Robert Rubin under Bill Clinton. Nevertheless, the Fed is already advising banks that they will not insure losses on the trading side. The Fed has been advising banks they will only […]

Germany is drawing a bright line between proprietary trading in banks and customer deposits. They are not merely separating the two, but they imposed criminal sentences for directors of banks and insurance companies if they fail to fulfill their supervisory duties in risk management or contravene an array of banking supervision. Germany will at least prosecute […]

Politicians will always vote in favor of their self-interests. The invisible hand is fully visible here. The Supreme Court reminded Biden that he could not bribe voters with taxpayers’ funds to cancel student debt. The enormously unpopular president needs all the bargaining chips he can get and continues fighting for student loan forgiveness. Democrats in […]

I really have a problem with them implanting a chip into me for this COVID-19 BS when it is nothing worse than the flu. It just seems that this is way over-the-top to scare everyone into some crazy new world where we are chipped, our DNA changed, and then what? The people behind this move, […]

QUESTION: The supporters of the left side and of the state/public sector always mention that the private sector is the one that suffers as in general (ex. 2008/2009 AIG case) the public always comes at the end as a fire brigade to save the world. How would we answer technically to all these people? Thank […]

Many in Germany are up-in-arms over the appointed by Chancellor Angela Merkel of Jörg Kukies who will become deputy finance minister in her new coalition government. Kukies will take over the responsibilities for financial markets and European policies at the Finance Ministry. Virtually every position in the key financial markets in Europe and American are all coming from […]