Answer: The Glass-Steagall Act was no longer preventing activities it was meant to prevent.
Explanation: 1. regulations covered fewer financial instruments as new financial instruments were developed. 2. Financial markets were becoming global, and U.S. regulations controlled only U.S. financial institutions. This reduced the ability of the United States to strictly regulate many financial institutions and 3. There was political pressure to reduce regulations, since people forgot that regulation had successfully controlled past banking problems.
<u>He threatened to resign. </u> Finally after several weeks of intense student protests and threats, the rector decides to resign forced for having done very little on the subject of racism and other unpleasant incidents on campus. The chancellor who supervises the university will also resign. This achievement is a victory for student activists.
