Bank Reform Under President Clinton
An analysis of the the political process, lobbying, compromise, conflicting goals and outcome of the banking regulation reform in the 1990s.
# 15484 | 1,350 words | 14 sources | 2000 |
Published on Jul 20, 2003 in Business (Finance, Investment and Banking) , Economics (Public Finance) , Law (General)
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The world of business has changed dramatically in recent years, yet one sector—banking—remained shackled by age-old regulations. That is what the framers of the Glass-Steagall Act intended.
From the Paper:"The world of business has changed dramatically in recent years, yet one sector—banking—remained shackled by age-old regulations. That is what the framers of the Glass-Steagall Act intended. The law, passed in 1933, placed strict limits on banks to prevent a repeat of the Great Depression. In recent years, however, Glass-Steagall has come under attack, with banks, politicians, and even regulators calling on Congress to reform federal regulation of financial institutions. This paper will examine the politics of bank reform, and how a concerted and expensive lobbying effort finally paid off in 1999.
The Glass-Steagall Act, which Congress passed in 1933, sought to cure the excesses that spurred the Great Depression. The legislation also sought to restore the nation’s faith in banks. During the 1920s, banks served as underwriters on..."
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