Glass-steagall act

1933

Who did the program help

  • the people
  • the economy
  • the stock holders

What was it meant to do

  • prevent more bank failures
  • avoid loss of money
  • provide for the safer and more effective use of the assets of banks

Reform

The glass steagall act wuld fall under reform. it was created to change the way the banks operated. It restricted the banks affiliations with security firms.

How successful was it

The act was semi-successful, the banks were able retain and make more money. Later A temporary fund became effective in 1934, insuring deposits up to $2,500 ,$5,000 then $250,000. eventually the act became unsuccessful and was ended in 1999.

How does this help you understand the great depression

The act shows how desperate everyone was to fix the economy. The economy had suffered to much debt and was trying to regain control. It also shows how difficult it was to fix.

Does it still exist today.

The Glass-Steagall Act was repealed in 1999. I do not think it shuled be brought back it was said to have become contriversal.
Too Big To Fail Banks and the Glass-Steagall Act