Here is the synopsis of our sample research paper on GLASS-STEAGALL ELIMINATION: WAS IT A GOOD IDEA?
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Essay / Research Paper Abstract
This 3 page paper argues that the elimination of Glass-Steagall was a good idea. Examples, illustrations given. Bibliography lists 1 source.
Page Count:
3 pages (~225 words per page)
File: D0_MBgstgal.rtf
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Unformatted sample text from the term paper:
Glass-Steagall Act was introduced it was thought to be an appropriate reaction to the hideous state of the economy during the Great Depression. Unfortunately, not only did the Glass-Steagall Act
fail to do what it was originally intended to do, but for fifty years it would continue to be debated by its opponents. In 1999 Congress finally decided that the
time had come to repeal the act and Glass-Steagall was thought to be a non-entity. Wrong. The projected and wondrous economic booms which were predicted at the death of Glass-Steagall
have not only failed to materialize, but it would seem that the elimination of Glass-Steagall was not such a prudent move after all. Ostensibly, the Glass-Steagall Act of 1933 was
Roosevelts answer to the Depression. The Act was designed to address the concerns of unit banking within states and the prohibition of nationwide banking. In comparison to other nations during
the same time and at a comparable level of economic growth, the United States banks suffered greater losses. This failure to address the concerns of unit banks (carrying less than
two million in assets) can be thought to be one of the largest contributing factors to the failure of so many US banks. Instead of addressing the issues it should
have addressed, Glass-Steagall served to establish financial regulations on banks, namely deposit insurance and a separation of commercial and investment banking. Spearheaded by a Senator whose last name was Glass
he was convinced that banks had grown too large and should just stick to the business of taking deposits and making loans. Before it was repealed, of course, the Glass-Steagall
Act had served mainly as a regulator of banks securities operations. The Glass-Steagall Act was enacted to remedy the speculative abuses that infected commercial banking prior
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