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Federalist Society member C. Wallace DeWitt writes for the Federalist:
Muddled thinking about banking is ascending across the political spectrum. From Bernie Sanders and Martin O’Malley to Mike Huckabee and Rick Perry, politicians of all stripes are suggesting (or flat-out stating) that the partial repeal of the Glass-Steagall Act—the 1933 law that established the separation of “commercial” and “investment” banking—by the 1999 Gramm-Leach-Bliley Act (GLBA) gave rise to the financial crisis of 2008-09. Nothing could be farther from the truth, but there is a lot of political star power behind this populist fantasy.
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