Raymond James Bank Rakes in the Profits

August 20, 2007  - Remember way, way back when the Glass-Steagal act kept banks and brokerage companies from playing together because they were very, very bad back before the Crash of  '29?

Well, at least until November 12, 1999 when Clinton signed a bill that abolished it? 

Oh... you don't remember that the banks and brokers were working together to fleece investors by floating shares of stock in craptacular companies, making huge investment banking fees, and then leaving the investor holding the bag when the companies blew up and ended up worthless?

So Congress passed the Glass-Steagal Act?

You don't remember?

Apparently nobody else does either... but Raymond James doesn't mind. And neither does Merrill Lynch, or A.G. Edwards, or Fidelity, or any of the other big (and little) players that now have their own little banks in their back pockets... how convenient!

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