hi guys what glass law? i have so many doubt please my instagram id you follw please
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The Glass-Steagall Act effectively separated commercial banking from investment banking and created the Federal Deposit Insurance Corporation, among other things. It was one of the most widely debated legislative initiatives before being signed into law by President Franklin D.
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Conversely, Glass–Steagall prevented securities firms and investment banks from taking deposits. The law gave banks one year after the law was passed on June 16, 1933 to decide whether they would be a commercial bank or an investment bank. Only 10 percent of a commercial bank's income could stem from securities...
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