Deborah-Diane profile image 84

Do you think the Glass-Steagall Act should be brought back to prevent risky bank investments?


Glass-Steagall was inacted in 1933 to separate commercial banking and investment banking. Most of it was repealed in 1999, and there have been serious bank problems since then.

 

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John R Wilsdon (john000) says

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5 years ago
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Maria V Eyles says

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5 years ago
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    Deborah-Diane 5 years ago

    I never thought about applying the Glass-Steagall Banking laws to mortgage companies, but it is a great suggestion.

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LandmarkWealth says

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5 years ago
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    Deborah-Diane 5 years ago

    Thank you, LandmarkWealth, for your well thought out comments. It is a very controversial issue, I know. Personally, I think the banking system was operating a bit more smoothly before Glass-Steagall was gutted. However, I know some disagree.


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Catherine Tally (cat on a soapbox) says

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5 years ago
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    Deborah-Diane 5 years ago

    Yes, I agree that deregulation of the banks and brokerage firms has been a disaster ... and it continues to grow. There are a few legislators who talk about reviving Glass Steagall, and I hope comments like yours encourage them to proceed.