Under its terms, banks would find it difficult to underwrite insurance.

ECONOMIST: Down with Glass-Steagall

New insurance models would arise, as insurers get smart about how to underwrite and distribute insurance in this new world.

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At the same time, they may extend loans, underwrite shares, execute stockmarket trades for their customers, sell insurance, arrange corporate mergers, and trade all sorts of commodities and financial instruments for their own account.

ECONOMIST: Policing the moneymen