BY CHRISTIAN EVANS
The financial crisis of 2008 has been called the worst economic disaster since the Great Depression. In the 1930s, during the Great Depression, President Roosevelt looked to Congress to overhaul the financial sector. He wanted the regulatory loopholes that contributed to the crisis sealed off. In response, Congress assembled a bill that was designed to prevent a future financial catastrophe of that magnitude by mandating the separation of commercial and investment banks. It was referred to as the Glass-Steagall Act.
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