Investment Banking

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Aaron Greenspan Investment Banking So the DOJ will investigate short-sellers at the drop of a hat (er, stock), but this can happen to the entire NASDAQ in broad daylight and there won't even be an investigation by the SEC, let alone a criminal prosecution by the DOJ. It's not even that complicated. It's the end of the first quarter, so the banks want the stock prices on their clients' statements to be as high as possible. Why not jam the markets to manipulate them upward at about 3:55 P.M.? No one will care. Nothing will happen. (It's also Friday, so as a bonus, you can buy weekly call options expiring at 4:00 P.M. knowing this will happen and watch your money increase by 10X.)

March 31, 2023 at 4:20 PM EDT • Reply

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	0	Retail Banks Can Expose Depositors' Funds to the Same Types of Extreme Risks as Investment Banks Aaron Greenspan, October 10, 2011 at 2:20 AM EDT
		In 1999, largely for the benefit of Citigroup, the Gramm-Leach-Bliley Act repealed the Glass-Steagall Act of 1933, which for seven decades had been successful at preventing banks from gambling with customer deposits. The Glass-Steagall Act had delibe...

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