Glass-Steagall Return Would Boost Banks, FDIC’s Hoenig Says

By Jesse Hamilton and Kathleen Hays - Jun 26, 2012
http://www.bloomberg.com/news/2012-06-26/glass-steagall-revival-would-bolster-banks-fdic-s-hoenig-says.html

A revival of the Glass-Steagall Act, the Depression-era law that separated commercial and investment banking, is “absolutely necessary” to protect the U.S. financial system, Federal Deposit Insurance Corp board member Thomas Hoenig said in a Bloomberg Radio interview.
Using Dodd-Frank Act powers to break up banks one-by-one is the wrong approach to removing the threat that risky trading could spark a repeat of the 2008 credit crisis, Hoenig said today on “The Hays Advantage” with Kathleen Hays.