„Glass Steagall means you go back to the rule, that in commercial banking, nothing is allowed but the Glass-Steagall standard. The other kind of stuff goes in the monetarist system. The problem here is that poor Paul Volcker does not yet understand the difference between a monetarist system and a U.S. credit system. And the only solution is a credit system. Why a credit system? Because you cannot save the U.S. economy from crashing totally, unless you dump and write off all attempted investment banking claims against banks which are supposed to be commercial banks. In a commercial bank, nothing is saved in bankruptcy reorganization that does not conform to a Glass-Steagall standard. All investment banking does not conform to a Glass-Steagall standard. All investment banking, including all the bailouts, is wiped off the books, as far as commercial banking is concerned.
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(Markierungen in Fett- bzw. Kursivschrift – wie immer – durch die Redaktion)(Anm. der Redaktion)