The Glass–Steagall Act limited commercial bank securities activities and affiliations between commercial banks and securities firms. Repeal of the affiliation restrictions of the Glass–Steagall Act was an important cause of the late-2000s financial crisis.The act limited commercial bank securities activities and affiliations between commercial banks and securities firms. This repeal caused banks and firms that are "to big to fail". Thus when they did threaten to fail bringing down the whole economy.



