Bill Clinton signed the bill

Go get the PROOF of what you claim like I did f0r my postions.

all you do is just say no it aint

The proof is in the same fucking links you keep posting. I keep telling you that and you keep refusing to discuss what is actually written. You simply pretend it says what you want it to say. But you don't understand what banks it was referring to or what the rules even mean. Hell, you don't even understand what they are referring to when they say broker. You are a fucking moron.
 
http://www.philadelphiafed.org/bank...src-insights/2009/fourth-quarter/q4si4_09.cfm


In 2007, the Board of Governors of the Federal Reserve System (Board) and the Securities and Exchange Commission (SEC) issued final rules, known as Regulation R.1 Regulation R implements certain of the broker exceptions for banks from the definition of the term "broker" under the Securities Exchange Act of 1934, as amended by the Gramm-Leach-Bliley Act (GLBA), Title II, and implements the GLBA removal of the blanket exemption from SEC registration for banks that effect securities transactions.2 The regulation is intended to provide a flexible framework for banks to continue to meet their customers' demands for banking services that include securities products while ensuring consumer protection. It is important to note that the compliance date for Regulation R for most banks was January 1, 2009.3 The regulation applies to banks, which are defined to include commercial banks, thrifts, trust companies, and U.S. branches and agencies of foreign banks.

too bad you are too fucking stupid to know what the above means.
 
RETAIL Banks Desh, not all banks you fucking moron. That is what happened when CLINTON repealed Glass Steagall. The RETAIL banks always had exemption, because they were not allowed to sell securities. The investment banks always were covered by SEC 1934. Anyone selling stocks, bonds, etc... were covered. The question was what exemptions to continue to allow the RETAIL side of the banks. That was what was put in place. Those people were NOT selling stocks, bonds etc... you fucking moron.


you lied huh
 
http://www.investopedia.com/terms/r/retailbanking.asp

Definition of 'Retail Banking'
Typical mass-market banking in which individual customers use local branches of larger commercial banks. Services offered include savings and checking accounts, mortgages, personal loans, debit/credit cards and certificates of deposit (CDs).

also from that link...

Retail banking aims to be the one-stop shop for as many financial services as possible on behalf of retail clients. Some retail banks have even made a push into investment services such as wealth management, brokerage accounts, private banking and retirement planning. While some of these ancillary services are outsourced to third parties (often for regulatory reasons), they often intertwine with core retail banking accounts like checking and savings to allow for easier transfers and maintenance.
 
http://www.investopedia.com/articles/general/071213/retail-banking-vs-commercial-banking.asp


July 12 2013| Filed Under » Banking Industry, Commercial Banking, Retail Banking



Retail banking refers to the division of a bank that deals directly with retail customers. Also known as consumer banking or personal banking, retail banking is the visible face of banking to the general public, with bank branches located in abundance in most major cities. Banks that focus purely on retail clientele are relatively few, and most retail banking is conducted by separate divisions of banks, large and small. Customer deposits garnered by retail banking represent an extremely important source of funding for most banks.

Corporate banking, also known as business banking, refers to the aspect of banking that deals with corporate customers. The term was originally used in the U.S. to distinguish it from investment banking, after the Glass-Steagall Act of 1933 separated the two activities. While the Act was repealed in the 1990s, corporate banking and investment banking services have been offered for many years under the same umbrella by most banks in the U.S. and elsewhere. Corporate banking is a key profit center for most banks; however, as the biggest originator of customer loans, it is also the source of regular write-downs for loans that have soured.
 
no separation after the death of glass steagall huh

No shit Desh. That is why they had to determine what exemptions would apply and to whom. The retail sides of the banks still had the same fucking exemptions that they always did. If they went into securities regulated by the SEC, they had to have their reps registered. As long as they did not do so, they didn't have to be exempt.

As the lines blurred due to M & A activity, they had to create new rules. Which is what they did.

Now again Desh... tell us... WHO WAS THE NY FED CHAIR WHO WAS SUPPOSED TO BE WATCHING THE LEVELS OF RISK OF NY BANKS?
 
after the law there was No separation dude.

how can that mean SOME were under differing laws?


it opened it all up and the republican made sure it stayed that way for YEARS
 
after the law there was No separation dude.

how can that mean SOME were under differing laws?


it opened it all up and the republican made sure it stayed that way for YEARS


Again Desh, anyone selling securities regulated by the SEC were STILL subject to the SEC regulations. That never changed.

The blanket exemption for the RETAIL side was still in place, meaning the people working on that side of the bank still could not sell securities unless they met the same conditions that existed for the RETAIL banks prior to the repeal. After negotiations, they came up with a list of exemptions for SEC regs. Those are the EXEMPTIONS that are now in place. They again deal specifically with the RETAIL side of the banks.

Again... WHO WAS THE NY FED CHAIR during the rising risk taking of these banks Desh? Who was supposed to be overseeing their risk and didn't do his job? What role did Obama then give him?
 
http://www.investopedia.com/articles/general/071213/retail-banking-vs-commercial-banking.asp


July 12 2013| Filed Under » Banking Industry, Commercial Banking, Retail Banking



Retail banking refers to the division of a bank that deals directly with retail customers. Also known as consumer banking or personal banking, retail banking is the visible face of banking to the general public, with bank branches located in abundance in most major cities. Banks that focus purely on retail clientele are relatively few, and most retail banking is conducted by separate divisions of banks, large and small. Customer deposits garnered by retail banking represent an extremely important source of funding for most banks.

Corporate banking, also known as business banking, refers to the aspect of banking that deals with corporate customers. The term was originally used in the U.S. to distinguish it from investment banking, after the Glass-Steagall Act of 1933 separated the two activities. While the Act was repealed in the 1990s, corporate banking and investment banking services have been offered for many years under the same umbrella by most banks in the U.S. and elsewhere. Corporate banking is a key profit center for most banks; however, as the biggest originator of customer loans, it is also the source of regular write-downs for loans that have soured.


hate fail level reached by super duper
 
lying is your only defense huh super duper

Again Desh... Your ignorance on the topic does not mean I am lying. It means you are ignorant on the topic and have no clue what you are talking about. Which is why you are incapable of actually discussing this in your own words and you simply cut and paste and hope it means what you want it to mean.

Again Desh... WHY can't you answer a simple question?

WHO WAS THE NY FED CHAIR RESPONSIBLE FOR OVERSEEING THE RISK THE NY BANKS WERE TAKING?

WHY DO YOU KEEP AVOIDING ANSWERING THAT SIMPLE QUESTION DESH? DO FACTS SCARE YOU DESH?
 
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