Economic Development
-The effective repeal of which Great Depression-era financial reform ultimately played a role in the financial crisis of the 2000s and 2010s?

Question

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In 1999, Congress passed the Gramm-Leach-Bliley Financial Modernization Act, which effectively repealed portions of the Glass-Steagall Act of 1933. The repealed portions of Glass-Steagall pertained to banking regulations prohibiting certain acts of speculation. As a result, there was a growth of super-banks, which controlled such a significant portion of the nation's wealth that they could not be allowed to fail, as bad businesses ultimately do.

Economic Development -The Effective Repeal of Which Great Depression-Era Financial Reform Ultimately