Did Glass Steagall Act Cause Recession?
The removal of the Glass-Steagall Act, which permitted banks to operate as both commercial and investment firms, may have contributed to the 2008 financial crisis. What was the impact of the Glass-Steagall Act on the economy? The date was June 16, 1933. The Glass-Steagall Act effectively separated commercial and investment banking, as well as establishing […]
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