A controversial issue in our government which is now viral is the U.S. financial crisis that our government is currently facing. One major topic a researcher can address to this subject is its main causes.
What are the causes of the financial crisis in our government? I want to focus on one major reason of financial crisis, the repeal of Glass-Steagall. The economy collapses because of Glass-Steagall. Based on my initial readings in NerdWallet, I found some information about it. Senator Carter Glass in the company of Representative Henry Steagall supported this Banking Act with the aim of averting bank runs and stopping upcoming crises. It prohibited profit-making banks from managing precautions with their patrons’ deposits and formed the FDIC as a defense in opposition to bank runs.
Some authorities think that the acts revoke have a say to the 2008 fiscal crisis. In considering the topic, I found reliable sources via internet like Questia, an online library in the net, different blog sites like NerdWallet and some news articles in the online periodical of U.S. News. All these sites can help me to find information allied in my study. Things are going well in terms of the availability of reliable sources in my chosen topic.
Moreover, in making a stand in the issue, I believe that the repeal of Glass-Steagall has something to do with the financial crisis of our government, since it alienated commercial and investment banking for seven decades. As I go on gathering information through further readings, I can lay down proofs and evidences of this act as a cause to the financial crisis of today’s regime. Because of the bulk of sources, I need further assistance to evaluate them which can be used or not in my paper.