Advertisement Continue reading the main storyThe goal of Glass-Steagall was to prevent banks from taking risks with people’s federally insured deposits. Since the Republican convention last July — when the restoration of Glass-Steagall was inserted into the party’s platform — Mr. Trump has on occasion signaled a willingness to break up the big banks. Advertisement Continue reading the main storyThe idea seems incongruent with the president’s many other policies on taxes and the environment that will largely benefit corporations and the wealthy. Advertisement Continue reading the main storyYet invoking Glass-Steagall, which was repealed in 1999, seems tailored to appeal directly to the angry voters who elected Mr. Trump. Advertisement Continue reading the main storyEven regulators, who worry about the systemic risks posed by huge banks, say restoring Glass-Steagall is no cure-all.

Source: New York Times April 07, 2017 00:45 UTC