What are the major categories of firms that make up the U.S. financial services industry?
What are the major categories of firms that make up the U.S. financial services industry? Are there more or fewer banks today than before the start of the financial crisis of 2007-2008? Why are the lines between the categories of financial firms even more blurred than they were before the crisis? How did the Wall Street Reform and Consumer Protection Act of 2010 try to address some of the problems that helped cause the crisis?
14. LAST WORD Why are federal prosecutors reluctant to bring major charges against large financial firms? What was the main regulatory action of the Glass-Steagall law? Why might having many smaller financial firms be more stable than having fewer larger firms? What argument can be made for the possibility that larger financial firms might be more stable than smaller financial firms?