But, financial authorities started loopholes in Glass-Steagall throughout the 1980s and 1990s, enabling banks to engage in securities actions and allowing nonbanks to provide bank-like products. “Australian banks” (banks participated in securities actions ) and also”shadow banks” (nonbanks offering bank-like solutions ) dominated our financial markets following Congress repealed Glass-Steagall at 1999. Universal shadow and […]
On Nov. 30, Hong Kong’s government announced a rare piece of news that was welcome in all sectors of a politically-divided city battling its fourth wave of COVID-19 infections: The vaccines are on their way. Hong Kong had purchased 7.5 million doses of a vaccine co-developed by U.S. pharmaceutical giant Pfizer and German vaccine maker […]
But they don’t see so much business travel in the future. Read More
