I Was Wrong about the Ethics Crisis (Moshe Vardi, CACM)

Re:I Was Wrong about the Ethics Crisis (Moshe Vardi, CACM) by Animats on Sunday December 29, 2024 @04:03PM (#42543084)

Wells Fargo, maybe.[1]

And we need Glass-Stegall back. Banks and brokerages should be separate. There is no good reason that Goldman Sachs should be a bank, other than for bailouts, which is why they became a bank.

[1] https://www.macrotrends.net/stocks/charts/WFC/wells-fargo/to...

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Re:I Was Wrong about the Ethics Crisis (Moshe Vardi, CACM) by jonstewart on Sunday December 29, 2024 @09:56PM (#42545990)

The Treasury Department’s capital “stress tests” seem to have been a good thing, though?

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Re:I Was Wrong about the Ethics Crisis (Moshe Vardi, CACM) by throwaway2037 on Monday December 30, 2024 @12:32AM (#42546751)

Can you explain why you think that commercial and investment banks should be separate? To be clear: Amoung highly developed nations, this is universally allowed now -- all of them allow commercial and investment banks within the same company.

Also, Goldman became a nationally regulated bank to get access to the Federal Reserve window. So did Morgan Stanley.

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Re:I Was Wrong about the Ethics Crisis (Moshe Vardi, CACM) by Animats on Monday December 30, 2024 @04:01PM (#42553473)

Because "too big to fail" produces moral hazard. Followed by bailouts. Like 2008.

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