OT? Fed, Treasury Reach Deal On Banking Bill

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See Lisa's thread below, "Law to allow banks and insurance cos to merge..." on New Answers list, Oct. 10th

[Fair Use...]

October 14, 1999

Fed, Treasury Reach Deal On Banking Bill

Filed at 9:48 a.m. EDT By Reuters

WASHINGTON (Reuters) - The Federal Reserve and Treasury have reached a compromise ending a dispute that has been a major obstacle to a congressional effort to overhaul Depression-era U.S. banking laws, Treasury Secretary Lawrence Summers said Thursday.

Congressional negotiators will meet later Thursday to try to hammer out final legislation to allow banks, brokers and insurers into each other's businesses.

The Treasury and Fed had been battling over which agency would regulate the new financial conglomerates that the bill would allow.

-- PH (ag3@interlog.com), October 14, 1999


oops. Meant 'New Questions' list.

-- PH (ag3@interlog.com), October 14, 1999.

Not awake yet. Here's the link:


-- PH (ag3@interlog.com), October 14, 1999.

Wasn't one of the clasical causes of '29 the banks dabbling in the stock market? What goes around comes around.

-- Helium (Heliumavid@yahoo.com), October 14, 1999.

Dewey,Cheatem ,and Howe Financial Services is pleased to announce new low 1.5% mortgage rates.These rates are available only in combination with our new mortgage insurance and homeowners policy............

-- Sam (Gunmkr52@aol.com), October 14, 1999.

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