Repealing Glass-Steagall: the past points the way to the future
Abstract: Passed as part of the National Bank Act of 1933, the Glass-Steagall Act prohibits the mixing of commercial and investment bank activities. It was passed during a time of tumult in financial markets: the economy was in depression and there were many bank failures. Given the state of today's banking industry and the current economic climate, is it time to repeal Glass-Steagall? Congress has been debating the issue for some time. In this article, Loretta Mester weighs in with her analysis of the situation. Her conclusion? The data support repeal.
File(s): File format is application/pdf https://www.philadelphiafed.org/-/media/frbp/assets/economy/articles/business-review/1996/july-august/brja96lm.pdf
Provider: Federal Reserve Bank of Philadelphia
Part of Series: Business Review
Publication Date: 1996