Heidi Moore, New York bureau chief and Wall Street correspondent for Marketplace, discusses the Facebook revenue report and what it tells us about the success or failure of its recent IPO, plus what it would take to reimpose Glass-Steagall, like Sanford Weill suggested.
Comments [6]
Heidi ended the segment by saying the crisis would have happened even with GS in place but it would have been contained to investment banks.
I might be incorrect, but I thought part of GS (or another depression era law) banned trading in the CDOs and other credit derivatives that played a central role in the financial crisis. One of the critical financial regulation rollbacks in the 1990's was allowing these types of derivatives.
They were banned in the 1930's as a result of the market crash precisely because they were basically gambling and not real financial investments and played a role in the crash.
Mortgage back securities are inherently insecure. But they make bankers a lot of money
i guess we know whose side ms moore is on
Sandy Weill makes me furious. It's because of his greed that Glass-Steagall was repealed in the first place. Now, he has no vested interest in the banks so he opens his big mouth and says banks and investment banks should be separated. We know they should. We don't need Sandy Weill to tell us.
Zuckerberg was leery of going public simply because he knew it was so much smoke and mirrors and hype. Who do they think they are fooling?
Isn't Facebook just "Too Big to Fail"? I'm so confused how it is not just another AOL.
Leave a Comment
Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.