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>* Power Jobs / Career Tracks I don't know what the bulk of MBA's will aspire to now -- or Hollywood for the matter. Investment banking was regarded as a golden

>* Power Jobs / Career Tracks I don't know what the bulk of MBA's will aspire to now -- or Hollywood for the matter. Investment banking was regarded as a golden standard for 'making it'. So no more, now that investment banking has gone down the toilet. These companies will still be conducting Investment Banking activities. There are other bank holding companies who also own investment banks (Citigroup, and I believe JP Morgan, in addition to a host of foreign banks like UBS). What this means is that they will be forced to adopt capital requirements and other regulation in their portfolio business and take on two new regulators in exchange for more financial stability from deposits and access to Federal Reserve funds. >* Regulation / Legislation Ironic, but the Glass-Steagall Act which was enacted in 1933 after the great depression was precisely the OPPOSITE: To separate commercial banking from investment banking! REF: http://www.fdic.gov/regulations/laws/important/index.html http://www.fdic.gov/regulations/laws/important/index.html (So it looks like the cycle has started once again) Preventing deposit-taking institutions from taking risky activities is of much less importance now that there is an FDIC. Also, having diversified business lines should make these firms less likely to fail. Glass-Steagal made firms more fragile. You don't see JP Morgan, Citigroup, Wachovia, or B of A getting bought out, yet.

nazgulnarsil 18y ago
the FDIC is a joke.
- nazgulnarsil 18y ago
  downmod all you want, it won't make your bank accounts any safer. does anyone remember when the FSLIC simply disappeared in the 80's? "the FDIC’s reserves reported it had US$45.2 billion of reserves covering 1.01% of all deposits. This is considered historically low." "FDIC Chairman Sheila Blair said yesterday that they may need to borrow money from the Treasury due to “short-term liquidity issues”"

nazgulnarsil 18y ago

the FDIC is a joke.

nazgulnarsil 18y ago
downmod all you want, it won't make your bank accounts any safer. does anyone remember when the FSLIC simply disappeared in the 80's? "the FDIC’s reserves reported it had US$45.2 billion of reserves covering 1.01% of all deposits. This is considered historically low." "FDIC Chairman Sheila Blair said yesterday that they may need to borrow money from the Treasury due to “short-term liquidity issues”"