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COMMENT: Welcome back, Glass-Steagall?

A re-imposition under Trump raises the prospect of Salomon Brothers and Merrill Lynch competing head-to-head again with Goldman Sachs and Morgan Stanley

Donald Trump's team has vowed to 'dismantle' Dodd-Frank
Donald Trump's team has vowed to 'dismantle' Dodd-Frank Photo: iStockPhoto

Based on comments last week by Donald Trump, “dismantling” the Dodd-Frank Act of 2010 will be among the first things attempted. What would that mean?

Trump's position on banks has never been one to encourage them. He has railed against bailouts and the easy treatment of bankers. He is for breaking up the banks and agreed with Senator Bernie Sanders that the Glass-Steagall Act of 1933, that forced a separation between the banking and securities businesses, should be restored.

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