An article in the New York Times observes that the Glass-Steagall Act forced the separation of
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An article in the New York Times observes that “the Glass-Steagall Act … forced the separation of investment banking from commercial banking” and “Glass-Steagall aimed to protect the common folk who deposited money in their banks for safekeeping.” In separating commercial banking from investment banking, was Congress’s main goal the protection of the average person’s bank deposits? Briefly explain.
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Money, Banking, and the Financial System
ISBN: 978-0134524061
3rd edition
Authors: R. Glenn Hubbard, Anthony Patrick O'Brien
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