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The 1999 Repeal Of Glass-Steagall: The Effect On U.S. Commercial Banks, Ryan Michael Daddi
The 1999 Repeal Of Glass-Steagall: The Effect On U.S. Commercial Banks, Ryan Michael Daddi
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The Great Recession of 2008-2009 was one of the most devastating financial crises of our history. The extent with which the recession plagued our financial system and affected everyday citizens created an immediate search for answers as to what had happened. Many experts pointed at the 1999 repeal of the Banking Act of 1933 (commonly referred to as Glass-Steagall) as a possible cause of increased risk-taking in the financial system. After the Great Depression, Glass-Steagall was enacted to separate commercial banking from investment banking, the combination being seen as a cause for the worst financial crises in history.
With the …