SECURITIES INDUSTRY ASSOCIATION
v.
The BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, et al. Bankers Trust Company, Appellant.
SECURITIES INDUSTRY ASSOCIATION
v.
The BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, et al. Bankers Trust Company, Appellant.
SECURITIES INDUSTRY ASSOCIATION
v.
The BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, et al. Bankers Trust Company, Appellant.
SECURITIES INDUSTRY ASSOCIATION
v.
The BOARD OF GOVERNORS OF the FEDERAL RESERVE SYSTEM, et al., Appellants, Bankers Trust Company.
United States Court of Appeals, District of Columbia Circuit.https://leagle.com/images/logo.png
Argued April 4, 1986.
Decided December 23, 1986.
Attorney(s) appearing for the Case
Richard M. Ashton, Atty., Board of Governors of the Federal Reserve System, with whom Richard K. Willard, Asst. Atty. Gen., Anthony J. Steinmeyer, Nicholas S. Zeppos, Attys., Dept. of Justice, Robert M. Kimmitt, General Counsel, Dept. of Treasury and Richard V. Fitzgerald, Chief Counsel, Office of Comptroller of the Currency, Washington, D.C., were on the brief for appellants, Board of Governors of the Federal Reserve System, et al. in No. 86-5139.
Paul L. Friedman, with whom John W. Barnum, Washington, D.C., Laura B. Hoguet, New York City, and James D. Miller, Washington, D.C., were on the brief for appellant, Bankers Trust Co. in Nos. 86-5089, 86-5090 and 86-5091.
James B. Weidner, with whom David A. Schulz, New York City, was on the brief for appellee in Nos. 86-5089, 86-5090, 86-5091 and 86-5139.
Paul Blankenstein, Washington, D.C., was on the brief for amicus curiae, Marine Midland Bank, N.A., urging reversal.
Robert S. Rifkind, New York City, was on the brief for amici curiae, New York Clearing House Ass'n and California Bankers Clearing House Ass'n, urging reversal.
Leonard H. Becker and Daniel I. Prywes, Washington, D.C., were on the brief for amicus curiae, Goldman, Sachs & Co., urging affirmance.
John J. Gill, III and Michael F. Crotty, Washington, D.C., were on the brief for amicus curiae, American Bankers Ass'n, urging reversal.
Michael S. Hefler, Richard F. Goodstein, Henry T. Rathbun and Arnold M. Lerman, Washington, D.C., were on the brief for amicus curiae, Dealer Bank Association, urging reversal. Ronald J. Greene and Kerry W. Kircher, Washington, D.C., entered appearances for amicus curiae, Dealer Bank Ass'n.
Linda Chatman Thompson, Washington, D.C., was on the brief for amicus curiae, Morgan Guar. Trust Co. of New York, urging reversal.
Harvey L. Pitt, Henry A. Hubschman and David M. Miles, Washington, D.C., were on the brief for amicus curiae, Investment Co. Institute, urging affirmance.
Before MIKVA, EDWARDS and BORK, Circuit Judges.
United States Court of Appeals, District of Columbia Circuit.
Opinion for the Court filed by Circuit Judge BORK.
BORK, Circuit Judge:
This is an appeal from an order of the district court invalidating under the Glass-Steagall Act a decision of appellant Board of Governors of the Federal Reserve System that permitted appellant Bankers Trust Company, a state-chartered commercial bank and a member of the Federal Reserve System, to place commercial paper issued by third parties...
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