Forum Post: Provision Q
Posted 13 years ago on Oct. 9, 2011, 4:30 a.m. EST by ltjaxson
(184)
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Provision Q of the Glass-Steagal Act (1933) prohibited the merge of Commercial Banks (Main Street) and Investments Banks (Wall Street). The Deregulation and Monetary Act of 1980 and direct repeal in 1999 have once again allowed Main Street banks to use our deposits and 'invest' in Wall Street ventures. Too big to fail is a direct result of this failed policy and must be stopped. Please tell everybody that believes too big to fail is bad economics, bad politics and bas for the US tax payer that we must once again have a seperation between commercial banks and investment banks.
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