This seems kind of like closing the barn door after the horse has already gotten out (and lions have eaten the horse). Just an empty barn full of taxpayers’ money that is not being lent out. A case of the fox watching the henhouse and we taxpayers seem to be the chickens.
Reinstating it now is like closing the door. The damage has already been done, the system has been raped and pillaged already. Closing the door will not fix the damage.
I agree with you Tome, I am not saying it is bad, just that it was allowed to happen and that is where the problem is. Now we taxpayers have to pay those who did this with our earnings after they knowingly shot the system down in flames.
I think you'll find that there are a whole load of baby horses still in the barn, and you're going to want to close the door to stop them getting out in the future.
http://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_Act