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Megan McArdle on Glass Steagall

Link:Off all the most bizarre statements running around about this crisis, the most bizarre is the shockingly common belief on the left that this can somehow be traced back to the Gramm-Leach-Bliley act, which "repealed" Glass-Steagall. (The equivalent, not-quite-as-loony belief...
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Mr. Lewis, Meet Messrs. Glass and Steagall

Business & Finance / Investing : MarketBeat - WSJ.com (6 years ago)

There are a litany of reasons for the current banking crisis the U.S. has found itself in, and there are a host of actors that can be blamed. But the Gramm-Leach-Bliley legislation, which effectively repealed the Glass-Steagall Act ...

Financial Reform Commercial (Updated)

Business & Finance / Investing : The Big Picture (5 years ago)

The screen is dark. There is a soft heartbeat in the background White letters appear on the screen: 1998 Glass Steagall Repeal Voiceover: In 1998, Congress repealed the Glass Steagall act. It had kept banks separated from Wall Stree...

Glass Steagall Repeal Made Crisis Worse

Business & Finance / Investing : The Big Picture (3 years ago)

> My Sunday Washington Post Business Section column is out. This morning, we push back on the meme that the repeal of Glass Steagall was not relevant to the overall credit crisis. The impact of the repeal was that banks got bigger, ...

Glass Steagall Repeal Made Crisis Worse

Business & Finance / Investing : The Big Picture (3 years ago)

The repeal of Glass Steagall itself did not cause the financial crisis. However, the repeal did help make the crisis worse. I bring this up because there has been a series of straw man articles claiming Glass Steagall was not a caus...

Gramm: Glass Steagall Repeal Irrelevant

Business & Finance / Investing : The Big Picture (5 years ago)

Phil Gramm, the former Republican Senator from Texas who co-wrote the act that undid Glass-Steagall, has our DQotD: > “I’ve never seen any evidence to substantiate any claim that this current financial crisis had anything to do with...

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