We really need to point out at the beginning that Steve Mnuchin is a lying piece of billionaire trash who would cut off his own mother's nursing home bills if it would earn him a tax cut. He's already arguing for "quantitative easing," i.e. voodoo economics, to generate the talking point that massive tax cuts for the rich "pay for themselves." Yeah, he's that kind of liar.
So when he goes up against Senator Elizabeth Warren to tell her yes, sure, he wants a "Glass-Stegall for the 21st Century" only it shouldn't do one damn thing that the original Glass-Stegall did, i.e. separate mortgage banking from Wall Street banking, Elizabeth Warren takes out her rolling pin and softens up that butter like a pro:
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Transcript via Vanity Fair:
Warren: I still haven’t heard the answer to my question; what do you think Glass-Stegall was if not separating commercial banking from investment banking, from ordinary banking?
Mnuchin: Again, the fundamental part of Glass-Stegall was, as you just outlined, it was separation of investment banking from commercial banking because people were concerned about conflicts.
Warren: And how do you separate without breaking up the big banks that have integrated these two things?