What's Wrong With the Financial System?

In his Domestic Banking column, Clyde Mitchell, professor of Financial Services Regulatory Law at Fordham law School, writes that Gramm-Leach-Bliley Financial Services Modernization Act and the Glass-Steagall Act have been the most important pieces of financial services legislation since the Great Depression; however, they are very different in their effect and goals, as was the legislative process that created them and the environment that existed at the time.

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