Outsourcing (or offshoring) is a bigger contributor to unemployment in the U.S. than laziness. Since 2000, U.S. multinationals have cut 2.9 million jobs here while increasing employment overseas by 2.4 million. This is likely just the tip of the iceberg, as multinational corporations account for only about 20 percent of the labor force. Glass-Steagall separated risky financial investments from government backed deposits for 66 years.The idea is simple. Banks were prohibited from using your federally insured savings to make risky investments.Why is this a good idea?Risky investments should be risky. If banks can use federally insured funds, there is no risk to them. If they win, they win. If they lose, we cover the cost.
Posted on: Sun, 11 Aug 2013 16:51:50 +0000
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