Do you know what the Glass-Steaglle Act was? You should, we are all paying for it now.

By
Real Estate Broker/Owner with www.WebMLS.net

Do you know what the Glass-Steaglle Act was? You should, we are all paying for it now.

Our entire population will suffer at some level because of the unregulated high risk mortgage loan practices of this decade because Glass-Steaglle was repealed in 1999.

As a result, we will all suffer from our government's overreaction and extreme regulation of financial institutions for the next decade.

We would not have to suffer through the latter if Wall Street and Financial Institutions / Banks had not perpetrated the former. Unchecked greed always has an ugly outcome in the end.

We need a new Glass-Steaglle Act to prevent this disaster in the future.

Everyone should do an online search to understand the Glass-Steaglle Act and the consequences of its partial repeal in 1980 (gave us the S&L crisis of 1988) and then its complete repeal in 1999 (gave us the financial meltdown we have today).

Then tell their congress reps and senators we need reasonable regulation now to protect our financial system in the future.

A free market works best with reasonable regulation. 

Larry A. Whited, Sr., CRB, CRS, GRI

President / Founder
www.maxUnet.com & www.WebMLS.net
A Virtual Real Estate Franchise System
** Virtual Is the Future **
P.O. Box 757
West Chester Ohio 45071
Direct - (513) 543-2727 Fax - (513) 297-7497

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