Homework: What is an Investment Bank...
Going back to the basics, I realized I heard the term "Investment Bank" this and that, but I wanted to know exactly what is one...
I sense this is the core problem that scared so many with Bear Stearns:
"In the US, the Glass-Steagall Act, initially created in the wake of the Stock Market Crash of 1929, prohibited banks from both accepting deposits and underwriting securities which led to segregation of investment banks from commercial banks. Glass-Steagall was effectively repealed for many large financial institutions by the Gramm-Leach-Bliley Act in 1999..."
I've been patiently waiting for someone to mention Glass-Steagall.
follow the corporate dollars and campaign donations (1990's) of Goldman Sachs and JP Morgan right to ___________. (dont be too surprised)
gee, who just ended up buying BSC ?
JP morgan is going to get a nice buidling soon.