Word: glassing
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...become an article of faith for many on the left - and some from other political precincts - that the 1999 repeal of the Depression-era Glass-Steagall Act, which separated commercial banks from Wall Street, is directly responsible for our current dire financial plight. Its repeal, argued journalist Robert Kuttner in testimony before Congress last year, enabled "super-banks ... to re-enact the same kinds of structural conflicts of interest that were endemic in the 1920s...
...didn't have commercial banks ready to step in, you'd have a vastly bigger crisis today," says Jim Leach, a Republican former Congressman from Iowa (and current Barack Obama supporter) whose name is on the Gramm-Leach-Bliley Act that repealed Glass-Steagall. Leach is no neutral observer, and there can be no proving that Glass-Steagall repeal has made the world safer. But amid the predictable debate now underway about how much new financial regulation is needed, it just doesn't make a very convincing scapegoat for the crisis...
...really interesting ones. In the aftermath of the savings and loan collapse and a banking-industry near-miss there was a flurry of activity aimed at keeping banks healthy, not by shoving them back into their New Deal box but by reasserting their central role in the financial system. Glass-Steagall repeal can best be understood as part of this effort. So was 1994 legislation allowing interstate branching. This was a bipartisan movement: The Gramm-Leach-Bliley legislation passed the Senate 90-8 (Joe Biden was for it; John McCain didn't vote, but had supported the bill...
...partition that screened my parents' balcony from their neighbor's shattered. Its metal frame was ripped partially out of the wall, and we've listened to pieces of it breaking off and flying away all night. Then the glass partition on the other side shattered as well. Watching that metal frame pound against the wall, knowing it could break free and smash into the windows, forced us to retreat. I'm hiding in the kitchen behind sheets of plywood my father attached to the bar. My parents are sleeping here on the floor. Ian, my husband, is guarding the closet...
...just discovered those pretty plate glass windows in my parents' apartment leaked like sieves. The rugs are sodden, the curtains are damp up to about four feet, and there's about an inch of water in some places. My cousin owns a rollaway storm shutter company in Florida. He warned us yesterday to be prepared for water infiltration. Dad spent the better part of Friday afternoon taping the window seams and hanging tarps. It didn't work. Plus, there's a leak in the living room ceiling. We're wondering if the apartment upstairs lost windows...