Consider how much trouble the regulators are having writing the Volcker rule:
In October of 2011, the SEC, CFTC and the banking agencies issued a joint notice of proposed rulemaking to implement the Dodd-Frank version of the Volcker Rule. In a clear sign of the trouble regulators are having, noted House Financial Services Chair Spencer Bachus (R-ALA), their joint proposal runs 300 pages and asks more than 1,300 questions of market participants on nearly 400 topics.
Anybody who thinks the politics of bringing back Glass-Steagall would be simpler needs to have head examined.
