Globalization
From Wikireedia
Linda Yueh and Jonathan Michie on ‘Global Recession: How Did it Happen?
1. De-regululation of Building Society 2. Class Steagall act 1933. Separated retail deposits from investment banks. i.e. Investment banks could not be using retail deposits to invest. Repealed 1999 3. If banks go under then impacts on wider system - therefore had to be bailed out. Gains go to bankers but risks go to tax payers
Globalization
