In 1933, in the wake of the Great Depression, this act separated investment and commercial banking activities. Improper banking activity, or speculation was deemed the main culprit of the financial crash. According to that reasoning, commercial banks took on too much risk with depositors' money. Therefore, we passed the GSA and America prospered. In 1999 the GSA was eliminated by the Gramm-Leach-Bliley Act and 8 years later we had the global financial meltdown. This act needs to be reinstated to protect America from banking speculation and bring back prosperity. Please sign this petition!
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