Zulugroove more chance of Trump winding up in the slammer than a decent person like former Pres Barack Obama.
You are an Obama hater as evidenced by the fact you like Trump post falsehoods about him. One you weirdly call him a Muslim president when Obama is a practising Christian.
Secondly, you falsely claim that Obama repealed the Glass Steagel when in fact it was repealed in 1999 and Obama did not become President until 2008. You are therefore defaming the President with your malicious lies. You should hang your head in shame.
Below in fact is detailed how Obama after he became President in the midst of the GFC in fact resurrected a new Act to replace the Glass Steagel which had been axed 10 years before he came into office. The worry now is that the measures aimed at stopping Financial institutions from behaving badly will be watered down by the Trump administration.
"His Glass-Steagall act for the 21st century will now be known as the "Volcker rule" named after former Federal Reserve chairman Paul Volcker – and is intended to stop banks which take deposits from running hedge funds, making private equity investments or using their money to take bets on markets. He will also stop big mergers between banks.
Glass-Steagall forced commercial and investment banks to separate. Commercial banks were not allowed to underwrite the sales of stocks and bonds, while investment banks could not take in deposits from customers.
It remained in place for half a century before it was repealed in 1999 through the Financial Services Modernisation Act, again better known by the names of the politicians who promoted the legislation – Gramm, Leach and Bliley.
These Republican politicians enabled allow banks to become retail and investment operations and combine with insurance companies. Their law has been blamed by many commentators for the financial crisis that enveloped the globe barely a decade later.
Without the changes to the law, Citigroup – which the US taxpayer has been forced to bail out – would not have been allowed to exist after banking group Citibank and insurer Travellers announced their intention to merge. Until the 2008 financial crisis, Citi was able to claim to be one of the biggest financial institutions in the world as a result of the takeovers it was permitted to make as a result of the legislative changes – including a move into investment banking by buying brokers Smith Barney and parts of Schroders.
In the UK, the debate about the need for a "new" Glass-Steagall has raged in the wake of the 2008 bank bailout. Liberal Democrat Treasury spokesman Vince Cable was one of the first to speak out in favour of "narrow banking" but the government has so far insisted that it does not believe that legislative change is needed to force a separation between investment banks and deposit-taking banks. Instead, Alistair Darling is pressing on with proposals for "living wills" which require firms to "establish clear contingency plans for action in times of failure".
"This may necessitate plans for revisions to corporate structures of some institutions, which may include establishing clear lines between deposit-taking and other banking operations," the treasury outlined in its reforming financial markets paper in July 2009.
Obama, though, is now going one step further, by promising to prohibit banks from engaging in activities which might cause a risk to customer deposits. It is his way of ending the mentality of “too big to fail" in financial markets."
https://www.theguardian.com/business/2010/jan/21/obama-bank-reform-glass-steagall
