Hints and tips:
...(FT) Replacing Lloyd Cynics say the ego of the typical investment banker is a paradox like the universe: infinite yet constantly expanding....
...But the legislation, designed to mitigate the risk of future bank collapses in the vein of RBS and Lloyds, has yet to be passed....
...Brief history lesson — Weill was at the head of Travelers (an insurance company) when he merged it with Citicorp (a commercial bank) in 1998....
...People and companies could get what they needed in one place and the operators could reap all those economies of scale they talk about in the business schools....
...And many traders have relied on trading strategies that were the equivalent of writing catastrophe insurance....
...RSA will join a handful of marine insurers prepared to take on business of this size – including Navigators and General, Travelers, Chartis, Markel and Watkins, a Lloyd’s syndicate specialising in the marine...
...Lloyd Blankfein, chief executive of Goldman Sachs, for one, has seen his reputation damaged for mishandling the politics of the Wall Street rebound, with the bank, for all its deep political connections,...
...Tinkering does not suggest a new Glass-Steagall, the law separating investment and commercial banning....
...The end of 2000 also saw a rise in financial services mergers as the industry took advantage of the dismantling of the Depression-era Glass-Steagall laws a year earlier that had kept banking, insurance,...
...merger of Citigroup and Travelers separated commercial banking from investment banking and insurance....
...The bosses of the US insurance company AIG have been tailed – including to their homes – by protesters holding signs accusing them of destroying savings and jobs....
...Mr Bernanke is pushing to broaden the rules, which currently apply only to banks regulated by the Federal Deposit Insurance Corporation, to include all significant institutions....
...The story is the same throughout Japan’s financial sector, from stockbrokers to insurance companies....
...Commercial banking, investment banking and insurance would all be under the same roof. Financiers had been chipping away at those regulations, centred in the old Glass-Steagall legislation, for years....
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