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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: JBTFD who wrote (14214)	4/1/2012 9:31:48 PM
From: TimF	Respond to of 85487

Graham Leech Bliley is what enabled the financial companies to conglomerate No they could and did conglomerate to very large sizes before Graham Leech Bliley, or after without taking advantage of something newly allowed. The primary way they conglomerated even after was for banks to buy other banks and investment banks to buy other investment banks. Graham Leech Bliley had nothing to do with that. You mainly got huge investment banks, and huge regular banks. If size if the problem, well Glass-Steagal was no barrier to size. For the most part banks and investment banks didn't buy each other out, and in the cases where they did that has little to nothing to do with the financial crisis (except the conglomeration that happened during the finacial crisis when the government was looking to get in trouble companies sold off to other companies, as a way to try to deal with the financial crisis.