In this issue

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Aug 6, 2012 / 18 Menachem-Av, 5772

Another convert to the cause

By Paul Greenberg

http://www.JewishWorldReview.com | Now it's Sanford Weill, a name from the inglorious past, the old wheeler-dealer, empire builder and banker extraordinaire, who's seen the light.

Mr. Weill showed up in the news the other day to confess his sins, and turn his back on the very policies that let him engineer the largest bank merger in recent American history. Now he's done a 180-degree.

Banks have gotten too big, he says. (Now he tells us.) This after he put together the biggest bank of them all -- Citigroup Inc. -- back in 1998. But that was before his prize creation hit a fiscal wall. And the wizard was turned into a goat, one more former immortal revealed as just another hotshot who got in over his head.

Small, he's now discovered, really is beautiful.

In the end, which came as surely as bust follows boom and downfall hubris, Mr. Weill's mega-bank was obliged to take a $45 billion bailout to survive. (Thank you, Mr. and Mrs. Taxpayer.)

Now, with the zeal of the new convert, he's joined the growing choir demanding that investment and commercial banking be separated, so future Sandy Weills can never again imperil the country's -- and the world's -- financial stability.

That's such a good idea Congress made it a law -- in 1933. That was back when the dangers posed by banks-cum-investment houses were still clear as a great depression -- the Great Depression -- engulfed the country.

But time passes, memory fades, and the pride and folly of man return. New, cocksure leaders innocent of history arise and explain that such precautions are no longer necessary, and the rules can be safely relaxed -- indeed, abolished. And the old games played again. Let the good times roll!

So the Depression Era law that kept bankers from speculating with their depositors' money was dismantled. It was called Glass-Steagall after its congressional sponsors, whose names had been forgotten over the years. So had their wisdom.

Financial masterminds like Bill Clinton and Phil Gramm explained that Glass-Steagall had become as antiquated and unwieldy as its name. It wasn't needed any more. It stood in the way of progress. It wouldn't be missed, except maybe by a few fuddy-duddies who still remembered why it had been passed in the first place.

Such warnings could be dismissed easily enough. There was money to be made, or at least gambled away. So a bipartisan coalition did away with the last vestige of Glass-Steagall, which had been crumbling for decades anyway. Why hold on to that remnant of the old order? Who could oppose such a progressive idea? The times weren't just a-changing, they had changed. And the law changed with them. The rush to misjudgment was on.

Even today, there are those who still defend that decision, Bill Clinton prominent among them. (What, admit a mistake?) But the ranks of those who were once enthusiastic about doing away with Glass-Steagall's firewall grow smaller and smaller as it becomes harder and harder to deny that repealing it was a monumental mistake. Sandy Weill is only the latest to join the ranks of those who want to restore the old wall.

But nothing is as simple as it ought to be. Simply resurrecting Glass-Steagall in its original form won't be easy; it may not even be possible. Not after all those who say they're for reviving it in principle find a way to "improve" it in practice -- beyond all recognition.

Consider how the simple old Volcker Rule, which had the same aim as Glass-Steagall, has metamorphosed into the mysterious new Dodd-Frank monstrosity. Its 828 pages of regulations are so vague and complicated, no one can be sure what all it permits or forbids. The myriad of new regulations it authorizes haven't even been written yet.

It has that much in common with Obamacare, aka the Affordable Care Act, which may not prove very affordable or even understandable. Remember when Nancy Pelosi, the happily former speaker of the House, told us we'd have to pass it to find out what was in it? Two years later, that day has yet to arrive, and may never. The details, which is always where the devil is, are still being worked out.

By all means, restore Glass-Steagall, but, please, not with revisions, exemptions, waivers and other such "improvements." Just re-enact the original. Accept no substitutes. Rebuild the old wall between old-fashioned, commercial banking and high-stakes speculation, And this time let it stand.

Heal the breaches in the old wall -- don't open still more, till it has all the consistency of Swiss cheese, with enough holes in it to drive a good-sized recession, even another Great Recession, right through it. Again.

Paul Greenberg Archives

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