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Fact Sheet: Repealing Glass-Steagall Contributed to the 2008 Financial Crash; Properly Reinstating it Can be an Important Protection to Prevent Future Crashes and Taxpayer Bailouts

As President Trump and his Chairman of the National Economic Council, Gary Cohn, join Senators Elizabeth Warren (D-MA), John McCain (R-AZ), Angus King (I-ME) and Maria Cantwell (D-WA) in talking about “breaking up the too-big-to-fail banks” and bringing back “a Glass Steagall-type law,” we thought it would be useful to address the following questions: