SECURITIES TRADE GROUP REPLIES TO SENATE VOTE
The Securities Industry Association
said it strongly supports the decision yesterday by the Senate
Banking Committee to freeze the entry by commerical banks into
non-banking businesses such as the underwriting of commerical
paper.
    "This committee vote is not only a prudent and thoughtful
approach to review of the Glass-Steagall Act, but a strong and
needed message from the Senate that it is the responsibility of
Congress to review, and if necessary, amend the nation's
banking laws," the association said in a statement.
 Reuter
