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Archive for the ‘Gramm-Leach-Bliley’ Category

TARP – my way. Reinstate Glass-Steagall.

The Gramm-Leach-Bliley [GLB] act repealed Glass-Steagall [G-S] - which was the law of the land here in the USA from 1933 to 1999. G-S created the FDIC, and prohibited large private banks - whose primary business is the investment business - from receiving deposits from the public. My Rx for America involves a dose of ...

Risk Management Group – how good are they ?

Since I wrote about Glass-Steagall, CDS’s [Credit Default Swaps], Blythe Masters and the Gramm-Leach-Bliley act in an older article, I had to reply to several private e-mails on how stupid the pricing of CDS’s were. Now, most CDS’s are priced and transacted in an unregulated environment. In fact, most of the larger investment banks used ...

My take on the banking crisis – if Glass-Steagall was the law today.

Many prominent economists [mostly the ones who want to be considered for political appointments] have gone on record in recent weeks – saying that if Glass-Steagall was law today, the banking crisis would never have occurred. Glass-Steagall [G-S] a.k.a The Banking Act of 1935 [passed in 1933] was the law that created the FDIC and separated ...