By Steve Viuker
As the race for the presidency rages on, much has been said about the Dodd-Frank Act and its predecessors, particularly the Glass-Steagall Act. But as is often the case in American politics, no consensus has been reached, and there are strong feelings on all sides of the issue.
“Glass-Steagall is dumb politics and dumb economics … returning to Glass-Steagall would be destructive and unworkable,” said Tony Fratto, managing partner in Washington at Hamilton Place Strategies, a lobbying firm that represents large banks.
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