By George J. Benston
The 1933 passage of the Glass-Steagall Act by way of Congress has profoundly effected the best way banking has been performed within the usa. Designed to avoid the types of financial institution mess ups that resulted from the Crash of 1929 and the nice melancholy that undefined, the Act made it unlawful for advertisement banks to interact in funding banking, and for funding banks to have interaction in advertisement banking. This research explores the explanations for the passage of the Act, deals new insights into the forces that formed the ultimate laws, and examines the prospective results of repealing the Act--arguing that repeal won't bring about the resumption of the issues that created a necessity for protecting laws.
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