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I was told that the repeal of the Glass Steagall act was a major part of the 2008 economic crises, because it allowed the commercial banks to get loans from the Fed. How true is this?
Not very. I have a section on this in my book Rollback. Here are a few links as well:
http://tomwoods.com/blog/the-glass-steagall-myth-revisited/ http://tomwoods.com/blog/repeal-of-glass-steagall-had-nothing-to-do-with-the-crisis/ http://tomwoods.com/blog/deregulation-caused-the-financial-crisis/
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