Glass-Steagall Act
Depression-era banking law
The Glass-Steagall Act was U.S. legislation passed in 1933 that separated commercial banking from investment banking, preventing banks that held deposits from engaging in risky securities trading.
For decades it shaped American finance.
Its repeal in 1999 is often cited as a factor in the 2008 financial crisis, though economists debate how much it mattered.
- Sarbanes-Oxley ActCorporate financial reporting law
- commercial banksFor-profit lending institutions
- Great Depression1930s global economic crisis
- securities tradingBuying and selling investments
- firewallNetwork access control system
investment banks · banking reform · FDIC insurance · New Deal programs · repeal · hedge funds · separation · mutual funds · legislation · subprime mortgage crisis · financial crisis · oversight · financial stability · compliance · financial · Congress · reform · securities
- US bankingFDIC, Fed, national banks, bank runs, bank failures
- Interwar EconomicsGreat Depression, interwar period, hyperinflation, gold standard, New Deal
- Historic DocumentsDeclaration of Independence, Magna Carta, Constitution, Bill of Rights, Mayflower Compact
Glass-Steagall Actderegulation
Removing governmental business restrictions
Glass-Steagall ActReaganomics
Supply-side fiscal philosophy
glass, glasses, glassy, glassware, glasswork, steely, steels, steeled, actually