Martin Vander Weyer Martin Vander Weyer

Smart management might have averted the banking crisis, not barbed-wire fences

Martin Vander Weyer's Any Other Business

issue 06 February 2010

Martin Vander Weyer’s Any Other Business

Will I join the ticker-tape parade to welcome back Senator Carter Glass of Virginia and Congressman Henry B. Steagall of Alabama? Well, I might lurk in the crowd, but I certainly won’t be cheering. These venerable legislators sponsored the US Banking Act of 1933 which built a wall between securities trading and deposit-taking that remained in place until 1999.

GIF Image

Disagree with half of it, enjoy reading all of it

TRY A MONTH FREE
Our magazine articles are for subscribers only. Try a month of Britain’s best writing, absolutely free.

Comments

Join the debate, free for a month

Be part of the conversation with other Spectator readers by getting your first month free.

Already a subscriber? Log in