From the article: The Glass-Steagall Act - History, Repeal, Possible Rebirth
The Obama administration is considering re-enacting parts of the Glass-Steagall Act, repealed in 1999, which separated the powers of commercial and investment banks. This Act protected depositors' money because it kept banks from using depositors' money to make risky investments, among other things.
Do you think regulation on banks should be increased in light of the causes of the 2008-09 recession? What do you Think?
bank regulatons
- Of course they should be regulated and each individual should be ACCOUNTABLE. NOT PROTECTED FROM CORPORATE.
- —Guest david
banks
- the president should put the Glass-Steagal act back in place
- —Guest Michael Brogan
http://www.choicebank.net
- I understand that we live in a capitalist society, without some forms of regulation, some avoid any social responsibility and seek the highest profits possible even at the expense of many.
- —Guest Banking 365
More Regulation of Investment Banks
- If corporate executives "played by the rules" very little regulation would be required. Unfortunately, however, greed often raises its ugly head and people find ways to "beat the system." In my judgement, a lot of hedge fund managers and senior executives in Wall St. Investment Banks should be behind bars along with Bernie Madoff. B.W. Mayhew, Ph.D.
- —Guest Barry Mayhew
FIN 365 Assignment
- Speaking from the viewpoint of a potential small business owner I feel that regulations on banks should be increased. As we have seen in the past few years things can fall quickly from great to fine to a mess in less than a year and once we get to a certain point it is really hard to come back from a crashing economy. I don’t like thinking that our government will have a hold on the major banks and have control over whether or not I can get the funds I’ll need to open a business, but that sounds a lot better then getting ourselves into another mess like the recesion we’ve been where in the end the government has to bail out the banks and everyone gets ripped off. If we start out with a stronger government investment there may be less of a chance that they will let it get as far as they have gotten in the past. And would likely step in early enough that the money that is currently in the bank will stay there and we will not need another massive bail out. In giving this power over to the
- —jlfarn01
Bank regulation
- I do think it would be a good idea to increase the regulations on banks. I don’t believe banks are in a situation where it would be a good idea to make large risky investments with depositors money. Of course, they could argue that risky investments equal large profits. However risky investments could also equal large losses. I don’t believe our economy is stable enough for banks to be making risky investments.
- —Guest Kristin Looney
FIN 365 Assignment 4
- I definately think that regulation on Banks should be increased. It is our money that is at risk and I believe is one of the largest reasons our economy is in the state that it is in today. I feel that if there were more strict regulations placed on banks then we would be in a better financial position as a whole.
- —Guest Bobby Mullins
bank regulation
- I definitely think that there should be more regulation on how banks operate. The financial crisis that our country is in right now is largely due to the fact that banks loaned out too much money to people who were unable to repay it. The high default on loans created a deficit that has ultimately led to our country's financial demise, so I absolutely think that there should be more federal regulation. They need to minimize default risk by screening applicants more thoroughly, which I feel will definitely help us get back out of the recession.
- —Guest Terry Keith
Bank Regulation
- I believe that regulation of banks in the country should be increased. If this had been done, alot of the economic problems that the country is facing could have been avoided. Regulation of the banks would give more structure to such factors as lending practices. This was one thing that caused alot of problems in the past few years. Banks were very lax in their control of lending. They would give money to just about anyone. While this put money in the marketplace at first, big problems came soon after. Most of the loans could not be paid back so the banks got in financial trouble. This would be avoided with more regulation.
- —Guest Willie Owens
FIN 365 Assignment 4
- Most definitely is the answer that comes to mind. Bank should have more regulations because they are not investing their money, they are investing our money. If I took my money to a stock broker he or she would have so many regulations they have to follow when it came to handling my money. We just assume that when we deposit that money in the bank that it is safe, but if someone at the bank or the bank itself made a mistake or wanted to invest the money then what is there to stop them. I'm sure with any new regulations forced onto the banks would find some way of being a new fee for the consumer but it would be worth it to protect our money. I say reinstate the Glass-Steagall Act.
- —Guest Tolva Leedy
Bank regulations
- Regulation on banks should be increased because we have learned in the past what happens when we allow them to act on their own. Banks do not operate in a responsible manner. How is it acting responsible to require a bailout from the government and then pay executive bonuses? Where does that even make sense? They should not be allowed to make money by raising interest rates and through late payments. They should instead give loans to help small businesses which in turn will help the banks which is a win-win situation.
- —Guest Angela Tackett
MNGT 365
- I think that they should be regulated. They have a big inpact on the economy and so far they have shown that they are making a lot of mistakes with money and how they operate. They need guidence on loan policies and how they pay their employees. They do not care to ask the government for money so they shouldn't care to have regulation imposed on them to how they handle the money.
- —Guest Pat McKenzie
FIN 365 - Assignment 4
- Yes, I do think that they should increase bank regulations. Rules are everywhere. They help keep some type of order in situations. These large banks are taking risky moves with people's money by investing in the sub-prime mortgages and such. They are putting more into raising their profits instead of what is best for the stakeholders, such as the customers, shareholders, society, etc. Regulations need to be in place to keep these big banks in check so they can't invest so freely. These regulations can help keep the banks on a more ethical path. This will help stakeholders in the long run and could help keep another crisis from happening.
- —Guest Jessica Bowling
MNGT 365 Assignment 4
- Yes, I feel not only should regulations on banks be increased but the method used currently to evaluate credit scores and the established loan rates should be reorganized. I worked for a bank in the IT Department whoose primary business was the sub-prime market. The practice's used with adjusted interest rates doesn't give any consideration for the ability to repay at higher rates as done by loans given by FHA who re-evaluate customers before raising rates. Article 4 explains that banks have basically learned nothing from the current crisis that they currently have the country in, so the government needs to increase monitoring in addition to regulate salaries lending institution pay top level executives. If executive pay were based on strength of the organization as well as the busness generated rather than a predetermed salary the crisis may have never exsisted.
- —Guest James Williams
FIN 365 Assignment
- There is no question in my mind that regulation on banks should be increased. This lack of regulation is a major contributing factor in the near collapse of the economy in September and October of 2008. Banks were making risky mortgage loans which led to many Americans losing their homes. Banks need to take responsibility for their actions that led to the worst recession since the Great Depression. For me, this means the government needs to intervene by establishing stricter guidelines and regulations for banks to abide by.
- —Guest Ryan Potter
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