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Inmate Central Inmate Central, where civil and family-friendly discourse about off-audio topics (other than religion and politics) is welcome. |
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In Reply to: RE: Question: If Scott Minerd's prediction comes true posted by rivervalley817 on June 17, 2020 at 15:59:55:
Glass-Steagall forced a separation between commercial banking and investment banking. It didn't have anything to do with separating public and private sector. The Fed has the same role as lender and regulator with both categories of banks.
The reason for putting up a wall between commercial and investment banking was to keep the public from panicking about their savings during a market crash and making a run on the banks. That was also the reason for creating the FDIC. That's part of the role of the Fed as well.
The repeal of the separation rule proved to be a good idea during the financial crisis of 2008/2009, because the diversified banks were in less peril than the specialized ones.
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Follow Ups
- RE: Question: If Scott Minerd's prediction comes true - Dave_K 06/18/2010:05:34 06/18/20 (6)
- RE: Question: If Scott Minerd's prediction comes true - rivervalley817 10:56:31 06/18/20 (4)
- No tax dollars involved - Dave_K 15:33:36 06/18/20 (3)
- RE: No tax dollars involved - rivervalley817 16:44:48 06/18/20 (2)
- RE: No tax dollars involved - Dave_K 07:45:18 06/20/20 (1)
- RE: No tax dollars involved - rivervalley817 09:39:29 06/20/20 (0)
- I'd support limited insurance for IRAs - Jay Buridan 10:23:17 06/18/20 (0)
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