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Part 1: Respond to discussion below:
In the aftermath of the financial crisis of 2007-2009, there have been calls to re-instate the separation of commercial and investment banking activities that were removed with the repeal of the Glass-Steagall Act.
Part 2: Respond to classmate below:
"President Clinton signed the Financial Services Modernization Act that repealed Glass-Steagall on November 12, 1999. Congress then had Republicans vote in the Senate passing the Gramm-Leach-Bliley Act. By reinstating the separation of commercial and investment banking it would protect depositors. This would also take away the thought that banks could be to big to fail. In 2011 there were efforts to re-instate Glass-Steagall however, it was not successful.
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