LETTER: Glass-Steagall Act should be restored

May 13, 2011 at 9:25 pm in The Daily Republic

For decades, Glass-Steagall was a cornerstone of the U.S. financial system, until the Gramm Leach Bliley Act unwisely removed this important financial regulation in 1999. With the repeal of the Glass-Steagall Act, the U.S. economy was exposed to an intolerable level of risk, and all Americans have since suffered the consequences of a financial crisis exacerbated by the removal of these safeguards. Continue Reading