Forum (Forum & Focus)
Sep. 15, 2009
Throwing Stones at Glass-Steagall
Although popular scapegoats, the Gramm-Leach-Bliley Act and the Glass-Steagal Act did not cause this economic crisis, writes Ken Thapar.
FORUM COLUMN
By Ken Thapar Every economist, businessman and lawyer will agree that this decade's housing bubble precipitated a financial crash of epic proportions. Most concur that proper regulation would have prevented such a disaster, but where did Congress go astray? Many critics blame the Gramm-Leach-Bliley Act, passed in 1999 under the Clinton administration. Although a popular scapegoat, the act's consolidation of commercial and investment b...For only $95 a month (the price of 2 article purchases)
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