What was the primary aim of the Glass-Steagall Act of 1933?

Banking Regulations and Financial Crises

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Business
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9th - 10th Grade
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Hard

Patricia Brown
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To merge commercial and investment banks
To encourage stock speculation
To prevent a repeat of the 1929 stock market crash
To promote investment banking
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How did the Glass-Steagall Act protect depositors?
By reducing bank taxes
By increasing interest rates
By creating a firewall between commercial and investment banking
By allowing banks to invest in stocks
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which financial giant was directly affected by the Glass-Steagall Act?
Goldman Sachs
Wells Fargo
Bank of America
JP Morgan and Company
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the purpose of the Bank Holding Company Act of 1956?
To deregulate banks
To regulate bank holding companies
To promote investment banking
To eliminate bank taxes
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What did the Gramm-Leach-Bliley Act of 1999 do?
Promoted subprime lending
Strengthened the Glass-Steagall Act
Eliminated restrictions between commercial and investment banks
Increased bank taxes
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is believed to have sparked the 2008 financial crisis?
The strengthening of the Glass-Steagall Act
The rise in subprime lending after the repeal of the Glass-Steagall Act
The increase in bank taxes
The promotion of investment banking
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was a key feature of the Glass-Steagall Act?
It mandated banks to choose either commercial or investment banking
It allowed banks to engage in both commercial and investment banking
It reduced oversight on banks
It promoted stock speculation
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