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Babson Opposes Guaranteeing Bank Deposits in Glass Plan
Babson argues against government backed bank deposits as proposed in the Glass bill. He cites bank failures and depositor losses, endorses joining the Federal Reserve System, and calls for stronger regulations and a unified banking structure over deposit guarantees. He criticizes the plan as shifting responsibility and tolerating weak banks.
MENTIONED IN THIS ARTICLE
Babson
Massachusetts
Senator Glass
Canada
England
France
United States
Federal Reserve System
Treasury
Federal Bank Deposit Insurance Corporation
Federal Reserve District