Enabled commerical and investment banking conglomeration
Eliminating Glass-Steagall, enabled commerical and investment banking conglomerates to emerge.
Immediately related elementsHow this works
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The Global Financial Crisis »The Global Financial Crisis
Long-term causes of the financial crisis? »Long-term causes of the financial crisis?
Unintended consequences of earlier public policy choices »Unintended consequences of earlier public policy choices
Investment banks incentivised to move into riskier activities »Investment banks incentivised to move into riskier activities
How were investment banks incentivised to increase risk? »How were investment banks incentivised to increase risk?
Allowing mixing of commercial and investment banking in 1990s »Allowing mixing of commercial and investment banking in 1990s
Enabled commerical and investment banking conglomeration
Advantages seen in Bank of America acquisition of Merrill Lynch »Advantages seen in Bank of America acquisition of Merrill Lynch
Model proven in Europe »Model proven in Europe
Risks increase while logic of conglomeration unfolds »Risks increase while logic of conglomeration unfolds
Conglomeration enables diversification »Conglomeration enables diversification
Investment banks gain access to more stable source of funds »Investment banks gain access to more stable source of funds
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