Abstract
Papers on the Glass-Steagall Act are difficult to write these days. Most economists who have examined the effects of the act have concluded that it has unwisely protected investment banks from competition and has been unnecessary to prevent banks from undertaking excessive risk. The legal profession, meanwhile, has created virtually a cottage industry in the discovery and exploitation of loopholes in the act that render its intended restrictions less and less relevant to the marketplace.
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© 1988 The Casto Institute
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Litan, R.E. (1988). Reuniting Investment and Commercial Banking. In: England, C., Huertas, T. (eds) The Financial Services Revolution. Innovations in Financial Markets and Institutions, vol 1. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-3277-7_15
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DOI: https://doi.org/10.1007/978-94-009-3277-7_15
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