(Former Fed Chief Paul Volcker is another hero of mine. I believe that it was he not Ronald Reagan that safe the American economic system during the 1970s and 1980s period of stagnation, DrTed)
From the NY Times, October 20, 2009
The aging Mr. Volcker (he is 82) has some advice, deeply felt. He has been offering it in speeches and Congressional testimony, and repeating it to those around the president, most of them young enough to be his children.
He wants the nation’s banks to be prohibited from owning and trading risky securities, the very practice that got the biggest ones into deep trouble in 2008. And the administration is saying no, it will not separate commercial banking from investment operations...