EBK ECONOMICS OF MONEY, BANKING AND FIN
EBK ECONOMICS OF MONEY, BANKING AND FIN
5th Edition
ISBN: 8220106799727
Author: Mishkin
Publisher: PEARSON
Question
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Chapter 11, Problem 19Q
To determine

How competitive forces led to repeal of The Glass-Steagall Act’s separation of banking and securities industries?

Concept Introduction:

The Glass-Steagall Act was passed by the U.S. Congress in 1933 as an act to prohibit commercial banks from participating in the investment banking business. It also prohibited bank sales of securities. This Act was passed as an aftermath of the Great Depression that led to the failure of several banks. It was partially repealed in the year 1999.

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