# Professor Lawrence White on the implications of Glass-Steagall

1 Faculty News July 20, 2015 ![Washington Examiner logo](/sites/default/files/styles/246w/public/assets/images/we.jpg?itok=Fh8Ny5Cg)>

Excerpt from [Washington Examiner](http://www.washingtonexaminer.com/progressives-try-to-turn-back-the-clock/article/2568394) -- "The Volcker Rule, criticized for its complexity, has already forced some megabanks to divest in ways they might not have had to under the late-stage versions of Glass-Steagall... The 21st Century Glass-Steagall Act would go far beyond that, [White](http://www.stern.nyu.edu/faculty/bio/lawrence-white) said... The financial industry would survive, he said, but might not be safer. 'If Glass-Steagall, with all of its pristine beauty of 1933, had still been in place, nothing would have been different' in 2008, he said."

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