Pros & Cons of Glass-Steagall

[Amelia]

Talk to me!

(Not sure what forum to post this in so if this is wrong - sorry about that.)

Just wanna learn more about it since Dems seem to think it was critical to the economic melt-down of 2008.

I've read a little including that it was well-intentioned but supposedly had mixed results.

 

[whitehall]

A desperate act created in 1932 by the democrat majority to stem effects of the recession. How did it work out? Over the next eight years the recession turned into a soup line depression.

 

[techieny]

Well he was very good in Above the Law but then his career took a bit of a dive.

 

[JakeStarkey]

A desperate act created in 1932 by the democrat majority to stem effects of the recession. How did it work out? Over the next eight years the recession turned into a soup line depression.

Glass-Stegall separated commercial and investment banking, so that banks were not underriting 50% loans to sales by their stock brokerage houses next door. Note all of the banking and financial problems since the act was dissolved some twenty years ago.