What are the issues? -- Investment banking : conflicts of interest in underwriting and research -- Accounting : conflicts of interest in auditing and consulting -- Conflicts of interest in universal banking -- Overview and conclusions -- Discussion and roundtable

It has often been argued during the recent credit crisis that commercial banks' involvement in investment banking activities might have had an impact on the intensity of their underwriting standards. We turn to evidence from the period prior to the complete revocation of the Glass-Steagall Act...