The Securities Industry Associationsaid 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
