One of the mysteries of the English language finally explained.
nounmass nounderogatory, informal
The practice whereby a commercial bank engages in unduly speculative or risky financial activities with the aim of achieving high profits.‘the banking needed by the economy could be closely regulated and casino banking could be left to its separate, freewheeling devices’
- ‘The next step, which will also score a much-needed goal for our government, is to help ordinary people get a decent, trusted bank that will abandon casino banking.’
- ‘Record bonuses averaging 340,000 per employee demonstrated that casino banking is back.’
- ‘The banking needed by the economyso-called narrow bankingcould be closely regulated and casino banking could be left to its separate, freewheeling devices.’
- ‘Could it be that manufacturing might provide unspectacular returns by comparison with casino banking?’
- ‘Events in America last week showed how the contagion in so-called investment banking - I prefer casino banking - is murdering honest-to-God commercial banking.’
- ‘Forcibly break up banks into retail and investment banking divisions to separate savers from "casino banking".’
- ‘As US Secretary of the Treasury, he worked successfully for the repeal of the Glass-Steagall Act, which since the Great Crash of 1929 had kept deposit banking separate from casino banking.’
- ‘It is no longer sufficient to save the banks, because most people do not want the casino banks, and the casino bankers, to be saved.’
- ‘He was seen as the kingpin of the so-called casino bankers who left taxpayers with a £850 billion bill to bail out the institutions they led.’
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