After the stock market crash of 1929 one of the first actions taken by congress under the Roosevelt administration was the Glass-Steagall Act. Under this law banks could not invest funds from personal savings and checking accounts; if any banks were to loose money on their investments, personal checking and savings accounts would not be affected. This was done in case of another depression or recession people could still access their personal savings. This act was repealed in 1999 under the Clinton administration resulting in people loosing their hard earned savings because of irresponsible investments made by banks. This legislation needs to be reinstated if not similar legislation must be written in order for the amef



