Rodge Cohen Argues Against Reinstatement of Glass-Steagall on CNBC’s Closing Bell

July 26, 2016

On July 26, Mr. Cohen appeared on CNBC's Closing Bell in a segment titled “Breaking up big banks a bad idea, expert says” in which he responded to bipartisan calls for the reinstatement of the Glass-Steagall Act. Mr. Cohen noted various myths about the repeal of Glass-Steagall, pointing out that the Act was only partially repealed and that this partial repeal did not lead to any of the major bank failures during the financial crisis. “You would be chartering a very different course,” Mr. Cohen said when asked what would happen if the largest banks were broken up. “You would be chartering a course where you are, for artificial reasons, eliminating the institutions which help fuel the American economy.”