1. Describe the relationship between the governmental agencies (SEC and Federal Reserve) and the banks (Bank of America, JP Morgan, Merrill Lynch, Wachovia etc. How did they view their responsibilities? Explain how that separation comes about and why it leads to problems (also known as agency problems or conflicts).

Answer rating: 100% (QA)

The governmental agencies such as the Securities and Exchange Commission SEC and the Federal Reserve ... View the full answer