How could many of the security frauds of the late 1990s and early 2000s have been prevented?

Question

Quizplus · Accepted Answer

The Glass-Steagall Act, which was originally put in place in response to the stock market crash of 1929, was meant to prevent banks from participating in both commercial and investment banking. However, it was repealed in 1999, which allowed banks to engage in more risky practices such as investing in the stock market. Reinstating the Glass-Steagall Act could have prevented some of the risky investments that led to the securities frauds of the late 1990s and early 2000s.

How Could Many of the Security Frauds of the Late