You may very well see your local *independent* financial planners standing on curbs near your local supermarket with hand lettered signs saying, "Will give financial advice for food."
Your bank will know about your hemorrhoids.
And to top it all off a certain financial editor/publisher isn't sure whether or not Thrifts a/k/a S&Ls will now be able to sell equities and insurance.
TL
Doug Henwood wrote:
> T. C. Frank wrote:
>
> >I was out of the country for a few weeks and now I understand Glass
> >Steagall has finally been repealed. Was there much debate on this or was
> >it the usual 100% financial industry consensus, good riddance to a
> >"depression era" relic? Was FDIC also abolished?
>
> Other countries have no equivalent of Glass-Steagall; they have
> large, universal banks. And many of those other countries have more
> egalitarian distributions of income and fewer financial crises than
> does the U.S. It's how you regulate and supervise the beasts that
> matters. All that populist inheritance about dispersal of ownership
> deserves a decent burial.
>
> Doug