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30 June, 19:25

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

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  1. 30 June, 19:53
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    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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