Description: "This excellent book...should be mandatory reading for all policy makers involved in the regulation of financial institutions."--Journal of Economic History"Demolishes the conventional wisdom. This thorough and painstaking research represents a major contribution to the debate."--Journal of Economic Literature"A bombshell. The latest contribution from one of America's leading authorities on banking mandates that we reject the conventional wisdom that justified passage of the Glass-Steagall Act....Benston's careful rereading of the contemporary literature...shatters the myth that commercial banks involved in security markets failed in large numbers or causes the financial debacle of the 1930s....A must buy for all collections."--Choice"Benston's book is a major intellectual contribution to the on-going debate over the restructuring of the U.S. financial services industry. As such, it is recommended reading for all scholars and regulators."--The Journal of Finance"In this volume, Benston 'revisits' the historical record and 'reconsiders' the case for appeal....A significant volume....By starting down the path of 'reconsideration' Benston whetted at least this reader's appetite for more."--Journal of Economic Literature

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