The Glass-Stegall act was created during the Depression of the 1930's as a way of safeguarding people's bank accounts. It forbade the banks from gambling with depositors' money in risky enterprises. The repeal of Glass-Steagall back in 1999 paved the way for the financial crash of 2008. Repeal Gramm-Leach-Bliley (which took away the Glass-Steagall protection) and bring back sensible regulation!
Why is this important?
The Glass-Stegall act was created during the Depression of the 1930's as a way of safeguarding people's bank accounts. It forbade the banks from gambling with depositors' money in risky enterprises. The repeal of Glass-Steagall back in 1999 paved the way for the financial crash of 2008. Repeal Gramm-Leach-Bliley (which took away the Glass-Steagall protection) and bring back sensible regulation!
