Glass-Steagall had NOTHING to do with the 2007-08 financial meltdown

[jsmirman]

55. Why would you post on something you know nothing about?

Your OP is uninformed.

So, who was never affected by Glass-Steagall?

Lehman
Bear Stearns
Merrill

Wrong.

http://voices.yahoo.com/olin-business-school-study-finds-insider-8195633.html

We created pitches that listed both the team that would help float a company's debt and the equity research analyst who would provide coverage of a company as we attempted to woo companies to take on our investment banking services.

Read this article for a good explanation of why you need outsiders (uncompromised research analysts) looking in at the pools of crap to determine if, indeed, they are pools of crap:

http://www.marketwatch.com/story/would-glass-steagall-save-the-day-from-credit-woes

Read this article to understand how dangerous it is to have the same people who are creating the pools of crap selling the pools of crap to their brokerage customers:

http://www.bergenjerseyforeclosures.com/blog/info/entry/repeal_of_glass_steagall_act

The bergen article also recommends the pbs production someone else mentioned in this thread.

When you're done with this reading, come back and tell us what you've learned.

Btw, I worked for number one on your list. I left many, many years before the fall - on my first day I was appalled by the lack of factual separation between departments and functions that were supposed to be separate. I was recommended for very early promotion (by the end of year two) and said thanks, I'm going to go write. Working there was just not what I wanted to do with my life. By the way, not everyone there was a bad person. Many people were, but not everyone.