Aftermath Of The Repeal Of The Glass Steagall Act. It makes no difference that Bear Stearns and Lehman were not actually universal banks meaning both commercial and investment. Some economists point to the repeal of the Glass-Steagall Act as a key factor leading to the housing market bubble and subsequent Great Recession the financial crisis of 2007-2008.
The repeal of Glass-Steagall in 1999 was part of a broad deregulatory push championed by the likes of Fed chief Alan Greenspan Sen. Some argue that the repeal of the Glass-Steagall Act of 1933 caused the financial crisis because banks were no longer prevented from operating as both commercial and investment banks and the repeal allowed banks to become substantially larger or too big to fail However the crisis would likely have happened even. Despite its tendency to be scapegoated the repeal of the Glass-Steagall Act was at most a minor contributor to the financial crisis.
Some economists point to the repeal of the Glass-Steagall Act as a key factor leading to the housing market bubble and subsequent Great Recession the financial crisis of 2007-2008.
Some people blame the crisis on the 1999 repeal of the 1934 Glass-Steagall Act which had segmented investment and commercial banking in. Some people blame the crisis on the 1999 repeal of the 1934 Glass-Steagall Act which had segmented investment and commercial banking in. Despite its tendency to be scapegoated the repeal of the Glass-Steagall Act was at most a minor contributor to the financial crisis. Margarette Burnette Mar 21 2019 Many or all of.
