Executive Summary It is often proposed that Hammurabi’s Code was the first written legal code. We cover this inaccuracy. Introduction Hammurabi’s Code is something many have heard of, but there is a large amount of misunderstanding. We cover one of the significant misunderstandings in this article. Not The Oldest, But the Best Organized and Preserved…
Executive Summary Bail outs are gifts to banks from governments that prevent them from ever having to adjust their behavior. Introduction Bail outs are necessary because private banks and related institutions lower standards for short-term profits. This leads to asset bubbles. When the bubbles pop, private banks can end up with losses. A bailout is…
Executive Summary These were designed to stabilize the banking industry in light of the Great Depression. Introduction The New Deal reforms were a group of laws and new regulations that had a very impressive impact on the economy of the United States and were of course vociferously opposed by private banking interests. This is covered…
Executive Summary This program was designed to push bad assets off of the balance sheet o the banks and onto the government. Introduction TARP stands for Troubled Asset Relief Program. What it did was move toxic assets off of the balance sheets of the private banks and put them onto the government’s balance sheet. It…
Executive Summary This was passed by the BIS to punish smaller banks and favor larger banks. Introduction Basel III was “passed” by the Bank of International Settlements. The objective of Basel III is described in the following quotation. “The proposed Basel III regulatory capital requirements are an immense and unnecessary burden that will actually threaten…
Executive Summary This banking act removed the Glass Steagall provisions. Introduction Under Bill Clinton, the Glass Steagall provisions were removed. These provisions had already been greatly diluted since being passed under FDR. This lead to both massive consolidation in banking, but also banks becoming riskier as the investment banking culture influenced the commercial banking side…
Executive Summary This banking act favored the banks over the public. Introduction This act was promoted by the Rothschilds. Secretary of the Treasury Chase was coerced by Rothschilds agents into supporting the act.
Executive Summary This law extended the charter of the Federal Reserve. Introduction This act extended the charter of the Federal Reserve into perpetuity. It also allowed national banks to open branches in many states, which allowed larger banks to compete against smaller banks. It loosened regulations on banks and gave the Federal Reserve more power…
Executive Summary This was a law that tried but failed to make a meaningful change to banking. Introduction This act was designed to overhaul financial regulation after the Great Recession.
Executive Summary This placed a separation between investment banking and commercial banking. Introduction Often referred to as the Glass Steagall Act, in fact, Glass Steagall is four provisions of the act that deal with the separation of commercial banks from investment banks. The 1933 Banking Act was much more far ranging than just this issue….