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Politics : BuSab
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To: SmoothSail who wrote (11174)12/27/2011 2:16:12 PM
From: TimF  Read Replies (1) of 23934
 
He told me that was the beginning of the financial crisis, even though Weill denies that it played a role.

What role did it play? How did it cause the crisis? How would the problems have been avoided if it had not happened?

Many European countries, for instance, had already torn down the firewall between banking and insurance.

Many had done so decades earlier, or never had such regulations at all. Why didn't all the problems happen a long time ago (at least in Europe)?
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