i 1000% endorse his mocking condemnation of the “crapo bill” and its supporters though.

it probably is not a coincidence that precisely the banks who took advantage of that abomination (hint — not predominantly small community banks) are now the locus of a new crisis. (thanks Rs and sell-out Ds.)

deposits and payments should be structurally segregated from risk investing (including traditional commercial-bank risk investing, not just the glass-steagall stuff). postal banking ftw. /fin