Counterpoint: A 21st Century Glass Steagall Act Is Needed

Counterpoint: A 21st Century Glass Steagall Act Is Needed Editor’s Note: For an alternative viewpoint, see: Point: Why We Shouldn’t Bring Back Glass-Steagall The Glass Steagall Act is the Depression-era law that gave financial companies a choice: you could be a plain old bank and enjoy the benefits of deposit insurance, or you could be an investment bank and trade in risky securities. But you couldn’t be both — you couldn’t play the casino with federally guaranteed funds. There’s been a lot of talk about Glass Steagall lately. In fact, the subject has probably drawn more scrutiny on the 2016…