Glass-Steagall Act


Glass-Steagall Act News

  • Fed Economist Says Big Bank Borrowing Advantage Increases Risk

    The largest U.S. banks, including JPMorgan Chase & Co. and Citigroup Inc., have been able to borrow more cheaply in bond markets than smaller rivals, in part because of investor perceptions that they were too big to fail, according to a Federal Reserve Bank of New York researcher.

  • Republican Wall Street Wants to Lose Faces NC Crisis

    Representative Walter Jones was a rare Republican who backed tough banking regulations after the 2008 economic collapse. Now Wall Street wants him out of office.

  • Thomas Chrystie, Creator of Cash Management Account, Dies at 80

    Thomas Chrystie, the Merrill Lynch & Co. executive who developed the Cash Management Account, a 1970s innovation that drove the firm’s growth into a full-service financial provider, has died. He was 80.

  • How Political Clout Made Banks Too Big to Fail

    The U.S. has historically kept the financial sector in check through a combination of sound principles and serendipitous decisions. But as the financial system gained strength in recent years, it also gained political influence. In the last decade, it has become too concentrated and too powerful, which has damaged not only the economy but the financial sector itself.

  • Regulators Pledge Higher Leverage Standards for Largest Banks

    The biggest U.S. banks will end up facing leverage caps tougher than standards for their overseas rivals, top regulators said today at a hearing to update lawmakers on their rulemaking progress.

  • Bernanke Empowered

    The new financial regulation law gives the Federal Reserve chairman the authority to force banks to raise capital and tighten lending -- just as he’s trying to steer monetary policy in the opposite direction.

  • Warren’s Mistake About Wall Street Risk-Taking

    When U.S. Senator Elizabeth Warren, the former law-school professor and self-appointed scourge of Wall Street, gets her history terribly wrong -- and proposes a new law based on that lack of understanding -- there must be a reckoning.

  • Bernanke Meets Buffett in Role Conceived to Protect Markets

    In November 2009, Senate Banking Committee Chairman Christopher Dodd advanced a radical proposal: to create a super-regulator that would take over most of the bank supervision that had been done by the Federal Reserve System, the Federal Deposit Insurance Corp. and other agencies.

  • Obama Bonding With Summers at Tennis No Ace for Fed Decision

    When President Barack Obama dropped by Lawrence Summers’s going-away party in 2010, he presented his National Economic Council director with a pair of suspenders, a gag gift to help Summers hold up his perpetually sagging trousers.

  • Warren Joins McCain to Push New Glass-Steagall Law for Banks

    U.S. Senator Elizabeth Warren and a bipartisan group of lawmakers have introduced a bill aimed at re-creating the Glass-Steagall Act, the Depression-era measure that separated commercial and investment banking.

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