Barry Eichengren links the current financial crisis to the repeal of the Glass-Steagall Act which separated commercial from investment banking. But as Alex Tabarrok shows the history of Glass-Steagall goes beyond economics and was the product of a titanic struggle between the Rockefellers and the House of Morgan.
Underneath the current crisis and response are similar struggles among real interests – banks, investment companies, the tech sector, oil and natural resources – but I can’t find anyone, anywhere providing commentary into these real interests. There is nothing even remotely similar to the hearings, reports, and exposes Tabarrock identifies during the 1930s to what is (or is not happening) today.