Faculty News
Professor Richard Sylla shares his views on the history of bank regulation in the United States
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Excerpt from WNYC -- "In 1998, President Bill Clinton signed the industry-backed repeal of the Glass-Steagall Act, a 1930s law which barred overlap between commercial and investment banks. After that repeal, Sylla said, the phrase-du-jour was 'financial innovation.' 'We were in an era of de-regulation,' Sylla told me. 'There was a notion that the 1930s had regulated us too much and therefore the solution was to deregulate.'"
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