So my old boss, Maria Cantwell, is joining forces with John McCain on legislation that would reinstate the Glass-Steagall Act which required banks to choose between operating as a commercial bank or as an investment bank before it was repealed in the late 90s.
Jason Linkins was following the news about the Cantwell-McCain effort and noticed that some random Treasury official was trying to push back on it. Linkins' counter-pushback was priceless:
The most cutting remark against McCain and Cantwell's efforts comes courtesy of Unnamed Treasury Official, who, as you might imagine, is some kind of awesome prick:
I think going back to Glass-Steagall would be like going back to the Walkman.
But hey, you'd go back to your Walkman too, if everytime you put your iPod on shuffle, it blew up the goddamned planet.
Moral of the story: Reinstate Glass-Steagall, save the planet. Of course, as Meteor Blades points out, given the way Congress deals with this kind of stuff, fat chance of it actually happening.