Introduction I believe that repealing Glass-Steagall was a mistake. There are several reasons for this, not the least of which is the critical, fundamental difference between investment banking and retail or commercial banking. But the protections that Glass-Steagall put into place guarded against issues that were relevant in the 1930s but never stopped being relevant. The financial crisis of 2007-2009 is strong evidence that the need to protect against commercial banking

It was from Pecora's hearings that many of the standards and regulations affecting the financial industry emerged, and continue to govern the way the 'street' does business today. It was also the time of the Glass-Steagall Act. The roaring twenties gave way to the Depression Era of the 1930's and still J.P. Morgan bore the standard for financial firms on Wall Street. The firm was the first one to be investigated

Liquidity and Loan Quality: the Impact it is having on Bank Health Since the 1980's, there has been an emphasis on deregulation within the banking industry. Part of the reason for this, is because of shifts in the economy (thanks in part to globalization) as the markets and products have changed. This has forced many different governments around the world to reduce regulations to include: liquidity and loan quality standards.

This was because they were seeing one of their primary competitors (Travelers) merging with Citicorp (which created a juggernaut of: insurance, banking and brokerage activities). At which point, executives at AIG felt that in order to: maintain their dominance in the industry and offer new products they should become involved in similar activities. The difference was that they would grow the company by expanding into areas that were considered

" (Crawford, 2011) These comments are showing how Wellstone understood the risk that this would pose to the financial system. In eight years after making this speech, the federal government would be directly bailing out firms that were too big to fail. This is indicating how the repeal of the Glass Steagall Act allowed financial institutions to engage in excessive amounts of risk taking. It is at this point that they

In IBM's case, the Department of Justice found that their efforts were mired in failure. Unfortunately, IBM was so central to the economic operations of Germany and occupied Europe that it was necessary to preserve IBM's role in the economy of Europe so as not to jeopardize the postwar occupation. Part II-Present Corporatist America and Comparisons with Fascist Italy- When the Wall Street Journal, the United States' newspaper of record for