When it announced its $13 billion deal for E*Trade, Morgan Stanley reminded us of the reason it was created during the 1930s.…
Throwback Thursday: The Best Banking Regulation
Today’s #TBT will look back at the Glass-Steagall Act of 1933. But first… Financial Trust The Chicago Booth/Kellogg School Financial Trust Index is a trust yardstick. Answered by approxima…
A Too Big to Fail Tale
Overseeing big banks, regulators are faced with a too big to fail tradeoff that began with Glass Steagall and continues today with Dodd Frank.…
The Top 19
Are 19 banks “too big to fail?” Listening to Bloomberg radio, I heard that four banking firms control close to 50 percent of their industry’s assets, that the top 19 c…
Deja Vu Glass-Steagall?
Thinking back to Glass Steagall (and related 1930s legislation) which was formally repealed in 1999 (summarized in “It’s Complicated”, my 1/17 blog), there were five problem areas th…
It's Complicated
Oversimplification concerns me. Some people are saying we should resuscitate Glass-Steagall. Passed in 1933, the Glass-Steagall Act (Banking Act of 1933) prohibited commercial banks from engaging in i…