Replies to post #4677 on Trump Media and Tech Group (NO Politics Allowed) (DJT)

[janice shell]

In 1999, after decades of lobbying and proposed legislation, some Glass-Steagall provisions were repealed as part of the Gramm-Leach-Bliley Act. Institutions could participate in both commercial and investment activities.

But critics of the repeal said it crossed a firewall between commercial and investment banking, and may have led to the Great Recession of 2008.

I also agree. Glass-Stegall should have been left in place.

But I don't recall Trump trying to bring it back. Not with his advisers.

[Porgie Tirebiter]

Kennedy didn't "invent" the SEC. But he was appointed as first chairman of it based upon his understanding of how to break the rules.

[Porgie Tirebiter]

The SEC had nothing to do with Glass-Steagall. The SEC was created later.