解除对固定佣金的管制意味着竞争和利润的减少，而《格拉斯-斯蒂格尔法》的废止使商业银行可以蚕食投资银行的其他传统业务领域。
Deregulation meant competition and thinner margins. Elimination of Glass-Steagall then allowed commercial banks to encroach on the investment banks’ other traditional preserves.