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Wells Fargo, maybe.[1] And we need Glass-Stegall back. Banks and brokerages should be separate. There is no good reason that Goldman Sachs should be a bank, ot
by Animats 2y ago
Wells Fargo, maybe.[1]
And we need Glass-Stegall back. Banks and brokerages should be separate. There is no good reason that Goldman Sachs should be a bank, other than for bailouts,
which is why they became a bank.
[1] https://www.macrotrends.net/stocks/charts/WFC/wells-fargo/total-assets https://www.macrotrends.net/stocks/charts/WFC/wells-fargo/to...
- jonstewart 2y agoThe Treasury Department’s capital “stress tests” seem to have been a good thing, though?
- throwaway2037 2y agoCan you explain why you think that commercial and investment banks should be separate? To be clear: Amoung highly developed nations, this is universally allowed now -- all of them allow commercial and investment banks within the same company. Also, Goldman became a nationally regulated bank to get access to the Federal Reserve window. So did Morgan Stanley.
- Animats 2y agoBecause "too big to fail" produces moral hazard. Followed by bailouts. Like 2008.