Zim: Think long and hard . . . what happened when
the clowns on capital hill de-regulated the banking
and securities industries?
(C'mon, KTC, try explaining it to me.)
In the meantime . . .
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Separation of commercial and investment banking
Over time the term Glass–Steagall Act came to be used most often to refer to four provisions of the 1933 Banking Act that separated commercial banking from investment banking.[2] Congressional efforts to “repeal the Glass-Steagall Act” referred to those four provisions (and then usually only to the two provisions that restricted affiliations between commercial banks and securities firms).[23] Those efforts culminated in the 1999 Gramm-Leach-Bliley Act (GLBA), which repealed the two provisions restricting affiliations between banks and securities firms.[24] After describing the legislative history of the 1933 Banking Act, this article deals with the narrow meaning of the Glass–Steagall Act as the four provisions of the 1933 Banking Act separating commercial and investment banking.
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Come on now, KTC.
Zim.
Mad Poet Strikes Again.
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