Banks too big to quarantine. Charles Ortel of the On the Money with Charles Ortel podcast. @GordonGChang, Gatestone, Newsweek, The Hill
Nov 18, 2021, 01:29 AM
Photo: A normal.,slightly daunting bank. Here: interior of the Helsinki Branch of the Vyborg-Bank in the 1910s
The Glass-Steagall Act is a 1933 law that separated investment banking from retail banking. ... By separating the two, retail banks were prohibited from using depositors' funds for risky investments. Only 10% of their income could come from selling securities. They could underwrite government bonds.
CBS Eye on the World with John Batchelor
CBS Audio Network
@Batchelorshow
Banks too big to quarantine.
The Glass-Steagall Act is a 1933 law that separated investment banking from retail banking. ... By separating the two, retail banks were prohibited from using depositors' funds for risky investments. Only 10% of their income could come from selling securities. They could underwrite government bonds.
CBS Eye on the World with John Batchelor
CBS Audio Network
@Batchelorshow
Banks too big to quarantine.
Charles Ortel of the On the Money with Charles Ortel podcast. @GordonGChang, Gatestone, Newsweek, The Hill