Why is this posted here? If this were a well-reasoned, thoughtful and thorough discussion of the Glass-Steagall Act, that might be interesting. Too bad this isn't. The original poster's understanding of economic and financial history is extremely poor, almost juvenile. For example, s/he does not mention the Federal Reserve at all and the role it played both during the Great Depression up and the run-up in asset prices we've seen over the last 25 years.