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Political Discussion
Reply to "SVB Bank Run: Fed Calling Emergency Meeting "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Re-enact Glass-Steagall[/quote] How would that have helped here? Neither SVB nor Signature did investment banking. Nor do the regional banks under stress. This was ordinary commercial banking that was mismanaged. [/quote] Indeed. Signature didn’t have a holding company structure. Glass-Steagall would not have applied. So many yuck yucks making stupid comments. In fact, Glass IS still in place right now for ownership or control purposes. You think all the trillions of dollars outside of the banking system might be of help right now? NONE of it is available to sure up any bank on the equity side right now. So Warren Buffet and all those like him can only watch as the government has to consider govt action or action from inside the banking sector. Those are the only two options bc of the genius of Glass-Steagall. [/quote]
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