Also know as Glass-Steagall , the Banking Act of 1933 effectively separated risky speculative investment banking from traditional . The repeal of this law by Bill Clinton in 1999 led directly to the toxic mortgage – fueled meltdown of 2008.. the root cause of our current economic situation.
Some critics , such Nobel laureate Joseph Stigliz , have long seen the changes of Glass – Steagall as a major factor in 2008 crash. By bringing “investment and commercial banks together , the investment bank culture came out on top”, Stigliz wrote in 2009.
Mi piace:
Mi piace Caricamento...
Correlati
Autore: Fabio Iacobini
Cogito Ergo Sum
I am a young man with plenty of determination and motivation.
After high school in my village, I decided to move to the university of law in Sassari. After two years, I realized that it was not for me, and I went to London to improve my English and make a new job and life experience. It was great working in the best hotels and restaurants in Central London (Mayfair and Knightsbridge ).
I started reading a lot making myself curious about the World and the People. Journalism, soon became my passion for sharing my idea and knowledge to the most famous and richest customers in London. I come back to Italy to spread my knowledge to my family and friends.
For the next future, I see my self successful Blogging and in Hospitality with the passion of theatre.
I hope to meet all of you, signing an autograph and shaking hands-off in a sign of respect.
All the best of luck
Yours,
Fabio
Leggi tutti gli articoli di Fabio Iacobini
Discover yourself 