Can a return to Glass-Steagall provide financial stability in the US financial system?
Jan Kregel
Authors registered in the RePEc Author Service: Alessandro Roncaglia
PSL Quarterly Review, 2010, vol. 63, issue 252, 39-76
Abstract:
In the immediate aftermath of the current financial crisis in the United States the response has been to resolve small and medium size banks, while large banks experiencing financial trouble have been given both direct and indirect government support. This, however, has resulted in a number of larger banks absorbing smaller ones, creating an even smaller number of even larger banks that dominate the financial system. This article deals first with a comparison of the problems created by "too big to fail" financial institutions. The second section deals with the possible restoration of Glass-Steagall type legislation as a means of restoring single-function financial institutions. It concludes that alternatives to separation of functions will have to be found to deal with multifunction financial institutions since most lending activity requires securities markets activities.
Keywords: Financial Crisis; Instability; Rules; Banking System (search for similar items in EconPapers)
JEL-codes: E50 F30 G01 G20 N22 (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9436/9331 (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:psl:pslqrr:2010:13
Ordering information: This journal article can be ordered from
http://www.pslquarterlyreview.info
Access Statistics for this article
PSL Quarterly Review is currently edited by Alessandro Roncaglia and Carlo D'Ippoliti
More articles in PSL Quarterly Review from Economia civile
Bibliographic data for series maintained by Carlo D'Ippoliti ().