财经英语教学资料：Chapter 3 Transcript of Glass-Steagall and the financial crisis.docVIP

Transcript of Glass-Steagall and the financial crisis A lot of people claim that the repeal of the Glass-Steagall in 1999 was a key event and key cause of the financial crisis. So let’s first try to understand what Glass-Steagall is. Glass-Steagall was a piece of financial regulation named after two senators Glass and Steagall. It was passed in 1933, a part of much wider regulatory regime change to really regulate for the first time, to massively regulate and control what financial firms could do. The idea behind Glass-Steagall was to separate out the commercial activities of a bank and the i