As megabanks continue to fight implementation of the Dodd-Frank financial reforms, the Madoff case is yet another argument for bringing back Glass-Steagall protections passed during the 1930s, but scrapped in 1999 during a catastrophic deregulation of the industry.
While the quarter itself was fine, the guidance the glass maker provided to the Street on the outlook for 2012 and beyond was refreshingly frank but clearly disappointing to investors.