Sens. John McCain, R-Ariz., and Maria Cantwell, D-Wash., proposed reinstating the Depression-era act that forced banks to split investment- and commercial-banking operations. “Under our proposal, ‘too big to fail’ banks would be forced to return to the business of conventional banking, leaving the task of risk-taking or management to others,” McCain said.
Posts Tagged ‘Risk Taking’
Senators propose reinstatement of Glass-Steagall Act
December 17th, 2009 
Before You Invest 
Posted in Finance Fraud 
Tags: Ariz, Banking Operations, Banks, Business Banking, Depression Era, Federal Deposit Insurance, Federal Deposit Insurance Corp, Former General Counsel, Glass Steagall Act, Insurance, John Mccain, Maria Cantwell, Proposal, Reinstatement, Risk Taking, Senators, Sens 
No Comments »Geithner, Brown Split on Tobin Tax at G-20 Meeting
November 9th, 2009 Before You Invest (Bloomberg) — Group of 20 governments split on whether to tax financial trading as part of a broader strategy to ensure the global economy’s expansion is less crisis-prone.
U.K. Prime Minister Gordon Brown told a meeting of finance chiefs in St. Andrews, Scotland yesterday that such a levy could prevent excessive risk taking and fund future bank rescues, adding momentum to a debate begun by France.
Posted in Finance Fraud Tags: Amp, Apps, Banking System, Excessive Risk, Finance Chiefs, Financial Crisis, Global Economy, Gordon Brown, Great Depression, Levy, Momentum, Pid, Prime Minister Gordon Brown, Risk Taking, Speculation, St Andrews Scotland, Timothy Geithner, Tobin Tax, Treasury Secretary, U S Treasury No Comments »
