Blog Archives

Glass-Steagall Act of 1933

This article is part of the Real Economy Project. Take action at BanksterUSA.org

This article needs additional citations for verification.
Please help improve this article by adding reliable references. Unsourced material may be challenged and removed.
The Glass-Steagall Act, also known as the Banking Act of 1933 (48 Stat. 162), created the regulatory framework for banking following the depression-era collapse of much of the banking system. It established the Federal Deposit Insurance Corporation (FDIC) and included other banking reforms, and placed legal restrictions on combined banking and financial service firms.
The 1999 Gramm-Leach-Bliley Act repealed much of the Glass-Steagall Act and is credited with being a contributor to the 2008 financial collapse.[1] continue reading

Advertisements