Glass-Steagall: The Debate Term You Should Probably Know

Glass-Steagall made an appearance at the Democratic debate. Here's what you should know about the Depression-era banking law.
SMS
Glass-Steagall: The Debate Term You Should Probably Know

During the Democratic debate, these two names came up a lot. 

Glass and Steagall are the authors of the Glass-Steagall Act, a law passed in 1933 that prohibited financial institutions from conducting regular commercial banking alongside riskier investments. 

In 1999, President Bill Clinton repealed it — which some critics say contributed to the 2008 financial collapse. 

Both Sanders and O’Malley have vowed to reinstate Glass-Steagall. Clinton’s Wall Street proposals stop short of that. 

This video includes images from Getty Images, the U.S. House of Representatives and the Federal Reserve

Featured Stories
Marijuana

White House Hints At Federal Crackdown On Recreational Pot

Prison inmates sit at tables

Private Prisons Will Make A Comeback In The Trump Administration

Steve Bannon and Reince Priebus

What Struggle? Steve Bannon, Reince Priebus Show United Front At CPAC

Want to see more stories like this?
Like Newsy on Facebook for More Presidential Election Coverage