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Posted on 11 Apr 2011 | 5,466 views
Glass Steagall Act and Market Crashes

The Glass-Steagall Act of 1933, also known as the Banking Act of 1933, separated banking according to the types of banking business — commercial banking and investment banking. It was passed when a large portion of the U.S. banking system collapsed during the Great Depression in the 1920s and 1930s.