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in response to KlausStoertebeker:

WTF

Another post that shows me that you act with stuff you never learned or never understand. I guess you must be a former attendant of one of the 12 elite universities of America to understand the Glass-Steagall Act signed by one of the greatest President of USA in 1933 by FDR. I guess also that about the Glass-Steagall Act no one public high school ever teaches their students.

So you WTF with your middle school degree of an IOWA mini school has no chance to understand what you are talking about. However - some private tutoring for you.

YES! Bill Clinton repealed the act. But why? He was the President with
the best political agenda since JFK. On his watch, the act was not real necessary. But than was the worse President ever elected. W. Bush. He change the cards dramatically.
That is the reason, why great President Barack Obama considered a modification of Glass-Steagall Act. The goal is very simple: Break the power of the banks.

The by great President Barack Obama featured considerations, the areas of activity exhibit of investment and commercial banks to separate, parallel to the Glass-Steagall Act built in 1933. At the time this law was in the framework of the so-called new deal.
Part of a set of economic and social reforms to combat the effects the great depression. The English-language idiom meant so much "New Deal" as

"Redistribution of the cards".

The Glass-Steagall Act named after its initiators from the Democratic Party
the Senator Carter Glass and the Congress representatives Henry B. Steagall. Already in the years in 1932, they brought in response to the numerous bank failures from 1921 until the beginning the 1930s a common first act the refinancing of banks by the Fed regulated. The more significant second Act, Glass-Steagall Act (Banking Act of 1933), and others forced the Institute to either as commercial bank for the classical deposits and ending business, as well as related services such as accounting and payments (commercial banking)or as Investment Bank for the securities business (investment banking) to decide. This was in contrast to the universal banking system, the both the
activities of business, as well as of investment banks in the same company, the Separating Banking System (SBS) for the United States binding. The main objective of the Glass-Steagall Act was,in particular, the so-called Proprietary trading of commercial banks to stop, so trade with financial instruments (money, securities, foreign exchange, varieties, precious metals or derivatives), the in the own name and is carried out for its own account of the Bank and not directly through a
Banking is thrown.