耶鲁-robert shiller-金融市场个-lect15-投资银行业务和二级市场-investment banking and secondary markets.pptVIP

Lecture 15: Investment Banking and Secondary Markets Glass-Steagall Act 1933 The modern concept of “Investment Bank” was created in the Glass-Steagall act (Banking Act of 1933). Glass Steagall separated commercial banks, investment banks, and insurance companies. Carter Glass, Senator from Virginia, believed that commercial banks securities operations had contributed to the crash of 1929, that banks failed because of their securities operations, and that commercial banks used their knowledge as lenders to do insider trading of securities. Investment Banks Bulge bracket firms: First Boston, Gol