HomeSearchLog inRegister
Latest topics
» NEW AGE DEEP STATE: SECRET SPACE HARVEST - DARK JOURNALIST
Yesterday at 10:01 pm by PurpleSkyz

» MAY 24/25: The Mid Week ZAP CRAP
Yesterday at 8:33 pm by robert18

» POOFness for MAY 24: THE FINALIZATION OF EVERYTHING ON THE PLATE (Or... SEND ME MORE MONEY!!!)
Yesterday at 8:30 pm by robert18

» Mind Control of our Children
Yesterday at 4:23 pm by topspin2

» This Weeks RV/CGR News - 2017: 5/21-5/27
Yesterday at 12:48 pm by Avebury

» Cymatics experiment tonoscope 432-440Hz
Yesterday at 12:13 pm by Consciousness Of Economic

» Secrets of Cymatics
Yesterday at 12:11 pm by Consciousness Of Economic

» The Flower Of Life Sacred Geometry Secret Of The Flower Of Life TRUTH!
Yesterday at 12:07 pm by Consciousness Of Economic

» Lost Ancient Technology Of Egypt 2017 Part 2: Tanis And Aswan
Yesterday at 10:18 am by PurpleSkyz

» UFO News ~ Bizarre UFO with transparent square flaps caught over Devon, UK plus MORE
Yesterday at 9:05 am by PurpleSkyz

» Grande Hoax - PA Announcer Blows It Wide Open!
Yesterday at 9:02 am by PurpleSkyz

»  INTEL Update (Real News) via email - "Keven Annett - ITCCS" 5/24/17
Yesterday at 8:55 am by PurpleSkyz

» Alien Covenant Review UNLIKE ALL OTHER REVIEWS by TS Caladan
Yesterday at 7:57 am by PurpleSkyz

» Contact in the Desert 2017 - Interview with Justin Deschamps of Stillness in the Storm
Yesterday at 7:52 am by PurpleSkyz

» Cindy Kay Currier - Dragnet Brief #15: How Trump became the Russian Mafia's "suka"
Yesterday at 7:51 am by PurpleSkyz

» FULL Benjamin Fulford 5-22-17
Yesterday at 7:45 am by PurpleSkyz

» Clif High Update - "The Global Financial System Reset is Happening Now "
Yesterday at 7:41 am by PurpleSkyz

» MILABS Experiment Goes Rogue, Meets Enki, Lives to Tell About it!
Yesterday at 7:27 am by PurpleSkyz

» CME headed toward Earth, impact expected around 12:00 UTC on May 26
Yesterday at 7:25 am by PurpleSkyz

» NIBIRU News ~ Planet X Visible France Skies plus MORE
Yesterday at 7:18 am by PurpleSkyz

» POOFness for MAY 21: FIGHT THE POWER
Wed May 24, 2017 11:32 pm by robert18

» What Is The Name of The Crime? –Unlawful Conversion
Wed May 24, 2017 7:14 pm by PurpleSkyz

» Anonymous - The world we currently live in... (2017-2018)
Wed May 24, 2017 7:12 pm by PurpleSkyz

» David Icke - Its time to Walk the Talk...
Wed May 24, 2017 7:08 pm by PurpleSkyz

» Cindy Kay Currier - Statements of Clarification
Wed May 24, 2017 7:07 pm by PurpleSkyz

» The GoldFish Report No. 96 Week 18 POTUS Update with Kent Dunn
Wed May 24, 2017 7:06 pm by PurpleSkyz

» Ariana Grande and the Illuminati Beta Kittens of Pop Culture
Wed May 24, 2017 7:02 pm by PurpleSkyz

» Former Clinton Staffer Arrested By The FBI.
Wed May 24, 2017 9:04 am by PurpleSkyz

» High Voltage at CERN Particle Accelerator Today 5/24/2017
Wed May 24, 2017 8:53 am by PurpleSkyz

Who is online?

Share | 
 

  Understanding the Glass-Steagall Act

View previous topic View next topic Go down 
AuthorMessage
Guest
Guest
avatar


PostSubject: Understanding the Glass-Steagall Act   Sat Aug 04, 2012 5:37 pm



Understanding the Glass-Steagall Act


By Drake


Posted on 08/03/2012


Understanding How Glass-Steagall Act Impacts Investment Banking and the Role of Commercial Banks




Contents At A Glance

Use these hyperlinks to jump to the particular section; use the
search feature on you browser to find particular information on this
page; or simply go down the page using the scroll bars to read in a
linear fashion.


Introduction to the Glass-Steagall Act

Causes For and Brief History of Glass-Steagall Act

Carter Glass and Henry Steagall

Restrictions and Repeals in the Bank Holding Company Act

The Provisions Within the Sections of the Glass-Steagall Act

The Generally Accepted Rationale for the Separation of Commercial and Investment Banking

A Summary of the Rationale Leading up to the Enactment of the Glass Steagall Act



Introduction to the Glass-Steagall Act


The Glass-Steagall Act has remained one of the pillars of banking
law since its passage in 1933 by erecting a wall between commercial
banking and investment banking. In effect, the law keeps banks from
doing business on Wall Street, and vice versa. In actuality, there are
two Glass Steagall measures. The first was the Glass-Steagall Act of
1932, a bookkeeping provision that allowed the Treasury to balance its
account. And what is commonly known today as the Glass-Steagall law is
actually the Bank Act of 1933, containing the provision erecting a wall
between the banking and securities businesses. It also laid the
groundwork for legislation that would allow the Federal Reserve to let
banks into the securities business in a limited way.

Causes For and Brief History of Glass-Steagall Act


Fundamental to an understanding of the passage of the Glass-Steagall
Act is the fact that by 1933 the U.S. was in one of the worst
depressions of its history. A quarter of the formerly working population
was unemployed. The nation’s banking system was chaotic. Over 11,000
banks had failed or had to merge, reducing the number by 40 per cent,
from 25,000 to 14,000. The governors of several states had closed
their states’ banks and in March President Roosevelt closed all the
banks in the country. Congressional hearings conducted in early 1933
seemed to show that the presumed leaders of American enterprise — the
bankers and brokers — were guilty of disreputable and seemingly
dishonest dealings and gross misuses of the public’s trust. Looking
back, some historians have come to a different conclusion about the role
such abuses played in bringing down banks. Some historians now say the
chief culprit of bank failures was the Depression itself, which caused
real estate and other values to fall, undermining bank loans. Securities
abuses played a minimal role in the collapse of banks, these historians
say, and caused few failures among the New York banks with the largest
Wall Street operations.

The Banking Act of 1933 was probably the newly-elected Roosevelt
administration’s most important response to the perceived shambles of
the nation’s financial and economic system. But the Act did not change
the most important weakness of the American banking system — unit
banking within states and the prohibition of nationwide banking. This
structure is considered the principal reason for the failure of so many
U.S. Banks, some 90 percent of which were unit banks with under $2
million in assets. (In contrast, Canada, which had nationwide banking,
suffered no bank failures and only a few of the over 11,000 U.S. Banks
that failed or merged were branch banks.) Instead, the Act established
new approaches to financial regulation — particularly the institution of
deposit insurance and the legal separation of most aspects of
commercial and investment banking (the principal exception being
allowing commercial banks to underwrite most government-issued bonds)....

Read Full Article: http://ascension2012andbeyond.com/understanding-glass-steagall-act/
Back to top Go down
 
Understanding the Glass-Steagall Act
View previous topic View next topic Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
Out Of Mind :: DINARIAN SCAMTASTIC NEWS :: RV/GCR, GURU CHATTER & NESARA INFO-
Jump to: