(Last Word) The Glass-Steagall Act of 1933:
A. encouraged the creation of large, interconnected financial services firms.
B. was a primary cause of the 2007-2008 financial crisis and subsequent recession.
C. created banks "too big to fail" and "too big to jail."
D. separated high-risk and low-risk financial activities across different firms.
D. separated high-risk and low-risk financial activities across different firms
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Equilibrium in the money market occurs when
A) the quantity of money demanded is less than the quantity of money supplied. B) the interest rate equals the money supply. C) the quantity of money demanded is more than the quantity of money supplied. D) the quantity of money demanded equals the quantity of money supplied.
In the balance sheet for the FBN bank above, the entries are in millions of dollars. If the desired reserve ratio is 10 percent, FBN Bank has desired reserves of
A) $360 million. B) $120 million. C) $280 million. D) $0.