Professor Richard D. Wolff, author and self trained Marxist economist, and journalist Hedrick Smith, author of Who Stole the American Dream, have both detailed how we have gone from the Greatest Generation of WWII to the first generation that will be worse off than their parents.
Both discuss the demise of the Glass-Steagall Act of 1933. Both recommend long term fixes and both agree that re-regulation is either difficult, next to impossible, or that it will be reversed by the same corporate forces quicker than Glass-Steagall. So far, the 2010 Dodd-Frank Act is only 38 percent imposed and fighting huge corporate resistance.
“Dodd-Frank may have been too smart for its own good.”
