Banks' Glass-Steagall Walls Quietly Rebuilt

Discussion in 'Stock Market' started by hvactec, Apr 8, 2012.

  1. hvactec
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    hvactec VIP Member

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    During the Occupy Wall Street protests last fall, it was not unusual to see signs urging the return of the 1933 Glass-Steagall Act.

    But according to panelists at the Securities Traders Association of New York on Thursday, the landmark Depression-era law that separated commercial banks, securities firms and insurance companies, undone in 1999 by legislation known as the Gramm Leach Bliley Act, is now effectively back on the books. And on Monday, financial services-focused investment bank Keefe, Bruyette & Woods chimed in with its own argument that big bank breakups may not be far off.

    read more Banks' Glass-Steagall Walls Quietly Rebuilt - Forbes
     
  2. ThinkCritically
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    ThinkCritically Open to opinion

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    :eusa_pray:
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  3. IndependntLogic
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    IndependntLogic Senior Member

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    I'm surprised Forbes published this. I'll be surprised if the GOP doesn't fight it with everything they have.
     

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