CJ 3450 Lecture Notes - Lecture 3: U.S. Consumer Product Safety Commission, Federal Trade Commission Act Of 1914, Corporate Crime

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Banking act of 1933 established the federal deposit insurance corporation (fdic), which provides deposit insurance to protect individual bank accounts, as well as prevented large banks from engaging in its commercial activities and engaging in securities investments. Prevented large banks from operating both commercial bank activities and security firms. Banks were forbidden to purchase securities for customers or invest in securities for the bank, issue or underwrite securities, and so forth. Beginning in the 1960s, the law was interpreted by legislators to allow banks to participate in more and more securities investing. Banking crisis occurs when major stress is placed on large banks that requires taxpayer assistance and that can be caused by greed and speculative investments on wall street. The banking crisis of 2008 caused the average american household about. ,000 because of the collapse costs of more than trillion (cost of 600 years of street crime combined)

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