Republicans are starting to see Deregulation as a very bad thing which contradicts their views of the Free Market. Welcome to reality!

Yesterday on ABC, Newt Gingrich admitted that repealing the Glass Steagall Act, the law that separates lending banks and investment banks, was a mistake. Gingrich also stated that the regulatory legislation should be reinstated. Now, a presently serving Republican congressman agreed that Glass-Steagall should be reinstated as well.

During a conservative radio show with Bill Bennett last week, GOP Rep. Paul Ryan agreed with a caller that the big banks should once again be regulated by Glass-Steagall. Yes, THAT Paul Ryan. You know, the Paul Ryan who heads the House Budget Committee and wants to end Medicare? That’s him.

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