Regulators have delayed the imposition of the Volcker Rule for two years, and this article presents a plausible explanation of why you should not be outraged.
Furthermore, the article links to a letter (PDF) by Robert Johnson and Joseph Stiglitz -- and if you have to choose three economists to trust in this crazy world, Stiglitz should probably be among them -- as saying that simple reimposition of Glass-Steagall would be a mistake if it worked. The writer argues that beyond that, it wouldn't work, because banks had already found a way around Glass-Steagall prior to its elimination.
Calling all economics writers here on Daily Kos -- help me/us understand whether this is true. If it is true, what are the implications?
