Legal Opinion
Securities Industry Ass'n v. Board of Governors of the Federal Reserve System
Court of Appeals for the Second Circuit
Decided February 8, 1988No. Nos. 1488-1494, Dockets 87-4041, 87-4055, 87-4057, 87-4059, 87-4061, 87-4063, 87-4067, 87-4069, 87-4071, 87-4073, 87-4075, 87-4077, 87-4079 and 87-4085PublishedCited by 12 opinions
1Opinion of the Court
CARDAMONE, Circuit Judge:
We review on this appeal those provisions of the Banking Act of 1933 that separated the commercial and investment banking industries and are known as the Glass-Steagall Act. See Pub.L. No. 73-66, §§ 16, 20, 21, & 32, 48 Stat. 162 (1933). Demand for divorcing banking and securities activities followed in the wake of the stock market crash of 1929, which occurred, it was said, because a mountain of credit rested on only a molehill of cash. The actions of the Federal Reserve Board that we review today allow commercial and investment banking to compete in a narrow market,…
2Cases cited19 opinions
- Chevron U. S. A. Inc. v. Natural Resources Defense Council, Inc.Supreme Court of the United States · 1984
- Skidmore v. Swift & Co.Supreme Court of the United States · 1944
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Kastigar v. United StatesSupreme Court of the United States · 1972
- Southeastern Community College v. DavisSupreme Court of the United States · 1979
14 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Independent Community Bankers of America v. Board of Governors of Federal Reserve SystemCourt of Appeals for the D.C. Circuit · 1999
- Scott v. Dime Sav. Bank of New York, FSBDistrict Court, S.D. New York · 1995
- Keefe v. ShalalaCourt of Appeals for the Second Circuit · 1995
- New York v. SullivanCourt of Appeals for the Second Circuit · 1989
- Keefe ex rel. Keefe v. ShalalaCourt of Appeals for the Second Circuit · 1995
7 more not listed; retrieve them via the Exa API.