Change His Stance on Banking Regulations

Are you tired of “it can’t be fixed, it’s too broken?” Well, I believe many of us are. In doing some research about a time when things did work, I found a piece of legislation called the Glass Steagall Act-named for the two members of Congress who put their name on it. This was signed into legislation in 1933 by President Franklin Roosevelt. It was enacted in the wake of the stock market crash and during a nation wide commercial bank failure and the Great Depression. Initially it was meant to separate investment banking and commercial banking activity, as improper banking activity was determined to be, in part, the cause of the crash. This new act would put clear delineation between commercial banking and banks doing Wall Street investing. We need to put regulations back into banking.