France’s Landau on Glass-Steagall’s relevance
Some separation or segmentation of financial activities between institutions with different legal status and abilities would be justified, said Jean-Pierre Landau, a deputy governor of the Banque de France.
Landau said it was a gross exaggeration to argue that the abolition of Glass-Steagall was a cause of the current crisis. But he said a case could be made for limiting the scope of activities that banks are allowed to engage in and in doing so limit the potential interactions and feed back
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