Glass-Steagall

Tom Lehman TLEHMAN at lor.net
Sun Nov 7 13:50:16 PST 1999


An Illinois Republican in the US Senate abstained from voting on the grounds that the bank owned by his family had been merged with a Montreal bank.

What do you make of that?

Michael Perelman wrote:


> Chernow, Ron. 1990. The House of Morgan: An American Banking Dynasty and the
> Rise of Modern Finance (NY: Atlantic Monthly Press).
> 110: Garraty, John A. 1957. Right-Hand Man: The Life of George W. Perkins
> (NY: Harper and Brothers): p. 219 says that Morgan's right hand man argued
> that the trusts represented a high order of socialism. "What is the
> difference between the U. S. Steel Corporation ... and a Department of Steel
> as it might be organized by the government?"
>
> --
>
> Michael Perelman
> Economics Department
> California State University
> michael at ecst.csuchico.edu
> Chico, CA 95929
> 530-898-5321
> fax 530-898-5901



More information about the lbo-talk mailing list