Margin of Safety

21stCenturyGlassSteagall

I haven’t thoroughly reviewed the bill yet, so I am neither for or against it. But this item in the “purpose” section tickles me:

(3) to eliminate conflicts of interest that arise
from banks engaging in activities from which their
profits are earned at the expense of their customers
or clients.

Profits are always earned at the expense of customers, Ms. Warren.

Related articles

• Elizabeth Warren Introducing A Bill That Would Be Wall Street’s Worst Nightmare (businessinsider.com)
• Warren Joins McCain to Push New Glass-Steagall Law for Banks – Bloomberg (bloomberg.com)
• Senators Introduce Bill to Separate Trading Activities From Big Banks (dealbook.nytimes.com)