OCTOBER 2005

Gramm-Leach-Bliley Turns 5

Congress opened the door five years ago for banks to enter the insurance and investment arenas, but the expected rush has yet to occur. That’s probably fine with critics, who feared that the return of universal banks would bring back Depression-like instability.

Personal Bankruptcies Soar

Over the past 24 years, the U.S. rate of personal bankruptcies jumped nearly 350 percent. The rate varies greatly among states. Tennessee’s rate last year—the highest in the nation—was more than 10 filings per 1,000 people, nearly four times the rate in Massachusetts.

The Economics of Charitable Giving

Americans are estimated to have raised their donations to charity three-fold over the past 40 years. What motivates them to give?