Banking Reform Is Back On The Back BurnerDean Foust
When federal regulators allowed banks to acquire big brokerages starting this spring, it looked as if a Depression-era law limiting bank activities was in its death throes. Exhibit A: Bankers Trust New York Corp.'s bid for Alex. Brown & Sons Inc. on Apr. 7. The fatal blow to the Glass-Steagall Act was expected later this year with a push by the Clinton Administration to eliminate the last curbs on bank ownership so that in time, say, Microsoft could acquire BankAmerica or Chase Manhattan could buy Chrysler.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.