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kenny6666 [7]
3 years ago
10

How did the Glass-Steagall Act work? or what did it do?

History
1 answer:
murzikaleks [220]3 years ago
5 0

Answer:

The Glass-Steagall Act is a 1933 law that separated investment banking from retail banking. ... By separating the two, retail banks were prohibited from using depositors' funds for risky investments. Only 10% of their income could come from selling securities. They could underwrite government bonds.

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