Wednesday, September 14, 2011

Effects of Glass-Steagall repeal

All eyes still on Europe, but once the calamity happens there, we get our turn & we have 4 TBTF banks.


from groovygirl:


"Very clearly shows the impact of the repeal of Glass–Steagall Act of 1933 (was signed into law in 1999). Internet Bubble burst early 2001 compounded by 9-11. Final creation of formal “too big to fail” banks happened in 2008-2009. Chart also shows that 1990′s were not as productive as once thought. Financial industry just consolidated, they didn’t really expand."





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