MrRodgers
Posts: 10542
Joined: 7/30/2005 Status: offline
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quote:
ORIGINAL: HunterCA Oh wait, when did it, or was it allowed to market stuff like securities? On the capital markets side, the acquisition of Continental Illinois helped BankAmerica to build a leveraged finance origination and distribution business (Continental Illinois had extensive leveraged lending relationships) which allowed the firm’s existing broker-dealer, BancAmerica Securities (originally named BA Securities), to become a full-service franchise.[29][30] In addition, in 1997, BankAmerica acquired Robertson Stephens, a San Francisco-based investment bank specializing in high technology for $540 million. Robertson Stephens was integrated into BancAmerica Securities and the combined subsidiary was renamed BancAmerica Robertson Stephens.[31] Hum, 1997. Who ran the administration then I wonder? Let me get this straight, Clinton is to be blamed because he acquiesced to repub bills and 'finally' deregulated banking in signing the modification to Glass-Steagall ? Also, even with that, none of your last 3 posts incriminate either Clinton or the banks on being allowed 9 years later to create fraudulent shit paper (nine years of further deregulation) allowing such blatant corruption and fraud. It is you again who really wants to have it both ways. Deregulate, don't fund or set the SEC onto them, then see almost free capital created (FED) a real estate bubble, standby while trillion$ are lost on shit paper. Furthermore, it was W who quite purposefully used an obscure 1863 OCC law to STOP ALL 50 state's attys' general from stopping the fraud. You go back and blame Clinton for doing everything the repubs and their greedy scum sponsors had been asking for, for all of these years and finally obtained including the mergers which after TARP has the remaining 6 with more assets and greater risk than pre-TARP. Even now the repubs refuse to regulate and as a result, I understand the taxpayers are STILL on the hook for banks...too-big-to-fail. I guess hey, we can all blame Obama because after all...he is a dem pres. Righteous man...real good.
< Message edited by MrRodgers -- 6/2/2015 8:33:17 PM >
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