Question
he Glass-Steagall Act of 1933 was passed in response to the perception that commercial bank engagement in securities trading was a significant contributing factor to
he Glass-Steagall Act of 1933 was passed in response to the perception that commercial bank engagement in securities trading was a significant contributing factor to the stock market crash of 1929.
Whether that perception is true or not is subject to debate. The Gramm-Leach-Bliley Act of 1999 basically repealed the Glass-Steagall Act. There has been some suggestion that the Gramm-Leach-Bliley Act was a significant contributing factor to the liquidity crisis in 2008 and the recession that followed.
Do you think that the Gramm-Leach-Bliley Act contributed to the liquidity crisis? Why or why not?
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
