Posts Tagged ‘Glass Steagall Act’

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    Deposit Insurance: The Importance of Confidence

    Mar 26, 13 • 268 Views • No 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...  [read more]

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    Figuring Out Financial Regulation

    Jul 18, 10 • 196 Views • No 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...  [read more]

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    BP and the Financial Crisis

    Jun 2, 10 • 217 Views • No 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...  [read more]

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    The Banking Pendulum

    Mar 4, 10 • 191 Views • No 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...  [read more]