FDIC’s Hoenig Defends Warren’s Glass-Steagall Act

The Vice Chairman of the Federal Deposit Insurance Corporation (FDIC) has vigorously defended the reenactment of parts of the Glass-Steagall act sought by Senator Elizabeth Warren, along with other prominent members of the United States upper house. The FDIC VC has defended the act from criticism that it would have little effect as it would not have halted the 2008 financial crisis.

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