Difference between revisions of "Glass-Steagall Act"
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The Glass-Steagall Act of 1933 created the regulatory framework for banking following the depression-era collapse of much of the banking system. It established the Federal Deposit Insurance Corporation (FDIC) and included other banking reforms. | The Glass-Steagall Act of 1933 created the regulatory framework for banking following the depression-era collapse of much of the banking system. It established the Federal Deposit Insurance Corporation (FDIC) and included other banking reforms. | ||
| − | The | + | The 1999 [[Gramm-Leach-Bliley Act]] repealed much of the Glass-Steagall Act and is credited with being one direct cause of the 2008 financial collapse. |
==Resources== | ==Resources== | ||
Revision as of 00:00, 10 October 2009
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The Glass-Steagall Act of 1933 created the regulatory framework for banking following the depression-era collapse of much of the banking system. It established the Federal Deposit Insurance Corporation (FDIC) and included other banking reforms.
The 1999 Gramm-Leach-Bliley Act repealed much of the Glass-Steagall Act and is credited with being one direct cause of the 2008 financial collapse.
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