For years U.S. commercial banks were insulated from the risky activities of investment banks mainly because of the

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The Glass-Steagall Act, passed in 1933, separated commercial banking activities from investment banking activities in order to prevent conflicts of interest and protect depositors' funds. However, it was repealed in 1999 with the passage of the Gramm-Leach-Bliley Act, which allowed banks to engage in a wider range of financial activities.

For Years U