Dylan Ratigan explains how banking has worked during the last 12 years in his book Greedy Bastards. I've read a lot of books about the financial crisis, but I think that he does a superb job of explaining how modern banking works in the simplest terms I've ever seen. It's well worth your time to read it. Ratigan doesn't name names, but who is the bank that led the way on some of this innovation of the combination of cutomer bank + investment bank + insurance comany? This combination was ILLEGAL until the repeal of Glass-Stegal in 2000. So who was this bank that broke through this barrier? Thanks to Bill Moyers, you can find out: It was Citi and their want to acquire Traveller's Insurance.
Listen to This: The Race To Ban Abortion
2 years ago
No comments:
Post a Comment