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How much of banking history reality is following?
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The bank on the corner, which since interstate bank ownership that idea may no longer exist. Mean commercial bank that accepts deposits with FDIC insurance. By law where they not prohibited from getting into speculative investment banking, so investment banks were created, which were to go bust if they did not work. The risk they took for deregulation. At one time there was law that prohibited deposit accepting banks from exposure to investment banks. Sear could not start bank because of insurance business. What happened to that law? When Bank of America goes belly up why should tax payers come up with one cent.
Should slogan to big to fail be replaced by– To risky to save.
Whoa. Your question is a bit hard to read and it sounds like you’re pretty P.O.’d. I think you are referring to the Glass-Steagall Act, which was repealed by Bill Clinton’s administration in 1999.
One Response to “How much of banking history reality is following?”
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November 20th, 2008 at 4:39 am
Whoa. Your question is a bit hard to read and it sounds like you’re pretty P.O.’d. I think you are referring to the Glass-Steagall Act, which was repealed by Bill Clinton’s administration in 1999.
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