Conservatives are guilty of over simplifying the role of Glass-Steagall - arguing it was Clinton and the Democrats who repealed - but this piece at Project Syndicate sheds light on the fact GS may be a strawman.
Indeed, banks are highly complex organisms.
****
In Canada, the big banks all offer insurance, banking and investments under one roof. For example, Royal Bank, RBC Securities, RBC Insurance, RBC Dexia, Wealth Management, Capital Markets (and all their subsidiaries and once upon a time Royal Trust), all operate under the Royal Bank banner. Royal is perhaps the most developed and sophisticated of all the banks - I reckon Toronto-Dominion is close - when it comes to this sort of integration and offerings.
No comments:
Post a Comment
Mysterious and anonymous comments as well as those laced with cyanide and ad hominen attacks will be deleted. Thank you for your attention, chumps.