Could the Glass-Steagall Act, the 1933 legislation that forced the separation of investment banking from commercial banking, be coming back? Andrew Sorkin's DealBook article explores why the law seems to be getting renewed support from both parties.
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One Thing Both Parties Want: To Break Up the Banks Again
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“To date,” she continued, “there hasn’t been much interest in this in Congress. But if the establishment heard one thing loud and clear in the 2016 primaries, it was that millions of Americans think that they were the victims of Wall Street and that the next president had better pay attention.” That may be the case, but the idea of reinstating Glass-Steagall seems to sit directly behind potentially unmovable obstacles.
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