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<p>[QUOTE=&quot;jolumoga, post: 1856397, member: 41780&quot;]A lot of information on the internet is probably outdated.&nbsp; I am not pulling stuff out of thin air; I have a business degree and it taught me almost nothing about how the real world actually works.&nbsp; I have spent the last couple of years rewiring my brain to account for this disparity.&nbsp; Actually, I had a suspicion about my professors, since they seemed to parrot the same views on the textbooks.&nbsp; This is from Wikipedia:</p><p><br /></p><p><i>In the United States, commercial banking and investment banking were separated by the Glass–Steagall Act, which was repealed in 1999. The repeal led to more &quot;<a href="http://en.wikipedia.org/wiki/Universal_bank" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.wikipedia.org/wiki/Universal_bank" rel="nofollow">universal banks</a>&quot; offering an even greater range of services. Many large commercial banks have therefore developed investment banking divisions through acquisitions and hiring. Notable large banks with significant investment banks include <a href="http://en.wikipedia.org/wiki/JPMorgan_Chase" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.wikipedia.org/wiki/JPMorgan_Chase" rel="nofollow">JPMorgan Chase</a>, <a href="http://en.wikipedia.org/wiki/Bank_of_America" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.wikipedia.org/wiki/Bank_of_America" rel="nofollow">Bank of America</a>, <a href="http://en.wikipedia.org/wiki/Credit_Suisse" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.wikipedia.org/wiki/Credit_Suisse" rel="nofollow">Credit Suisse</a>, <a href="http://en.wikipedia.org/wiki/Deutsche_Bank" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.wikipedia.org/wiki/Deutsche_Bank" rel="nofollow">Deutsche Bank</a>, <a href="http://en.wikipedia.org/wiki/Barclays" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.wikipedia.org/wiki/Barclays" rel="nofollow">Barclays</a>, and <a href="http://en.wikipedia.org/wiki/Wells_Fargo" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.wikipedia.org/wiki/Wells_Fargo" rel="nofollow">Wells Fargo</a>. After the <a href="http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008" rel="nofollow">financial crisis of 2007–2008</a> and the subsequent passage of the <a href="http://en.wikipedia.org/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.wikipedia.org/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act" rel="nofollow">Dodd–Frank Wall Street Reform and Consumer Protection Act</a>, regulations have limited certain investment banking operations, notably with the Volcker Rule&#039;s restrictions on proprietary trading.</i></p><p><br /></p><p>Trust me, I am not trying to one-up you.&nbsp; You seem to have an interest in banking and economics, which is good, but I encourage you to look at how these definitions have become blurred in recent years and the arguments for re-establishing the barriers between commercial and investment banks.&nbsp; I am not suggesting I can walk into a regular bank and get investment advice as with Morgan Stanley.&nbsp; You might also want to check out Nomi Prins, who was a high-ranking executive at Goldman Sachs.&nbsp; </p><p><br /></p><p><br /></p><p>Source:</p><p><br /></p><p><a href="http://en.wikipedia.org/wiki/Investment_banking" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.wikipedia.org/wiki/Investment_banking" rel="nofollow">http://en.wikipedia.org/wiki/Investment_banking</a>[/QUOTE]</p><p><br /></p>

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