Posts Tagged ‘Glass Steagall Act’

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    Deposit Insurance: The Importance of Confidence

    Mar 26, 13 • 141 Views • Behavioral Economics, Economic Debates, Economic History, Financial Markets, Money and Monetary Policy, RegulationNo Comments

    Cyprus’s banking crisis made me think of the FDIC sign in my local bank. Located right where I can see it, the reminder inspires confidence. Similarly, on an FDIC web site, they say at the top, ”Since the FDIC’s creation in 1933, no...

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    Figuring Out Financial Regulation

    Jul 18, 10 • 85 Views • Businesses, Economic Debates, Economic History, Financial Markets, RegulationNo Comments

    Words cannot describe the 2300 pages of the Dodd-Frank Wall Street Reform and Consumer Protection Act. In a way, because it says so much, it tells us very little. Still though, after looking at the bill and several news summaries, I wanted to share some main...

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    BP and the Financial Crisis

    Jun 2, 10 • 101 Views • Economic History, Environment, Financial Markets, InnovationNo Comments

    I suspect that there is an inverse relationship between government’s ability to get regulation right and the length of the legislation. Glass-Steagall was 34 pages long. Recently proposed financial legislation is 3000 pages long. The need for...

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    The Banking Pendulum

    Mar 4, 10 • 94 Views • Thinking EconomicallyNo Comments

    As George Bailey in “It’s a Wonderful Life,” Jimmy Stewart faces a bank run.  On his wedding day, hoping to save his bank, George first gives out the bank’s cash and then his honeymoon money to a long, agitated line of panicked...