Claim 97d6f1f9Checked 09 Jul 2026
FalseOn the truth scale
“Alan Greenspan got rid of the Glass-Steagall Act.”
Reasoning & Evidence09 Jul 2026
Alan Greenspan did support major revisions to Glass-Steagall, but he did not personally “get rid of” it. In 1999, Greenspan testified that the Federal Reserve supported revisions to remove Glass-Steagall barriers, while the actual repeal of key Glass-Steagall restrictions came through the Gramm-Leach-Bliley Act, which Congress passed and President Clinton signed into law on November 12, 1999. The FDIC also describes that law as repealing the last vestiges of Glass-Steagall. So the claim wrongly attributes the repeal to Greenspan. Sources: Federal Reserve Board testimony of Chairman Alan Greenspan, February 11, 1999; Congress.gov summary of S.900, the Gramm-Leach-Bliley Act; FDIC Chronology of Selected Banking Laws; White House statement by the President during bill signing. (federalreserve.gov)
From article
But they were allowed to. Who let them do it? Moronic politicians, who changed rules we’d had for seven decades. Take America – [Alan] Greenspan got rid of the Glass-Steagall Act.5The Banking Act of 1933, which separated investment banking from commercial banks. Its effectual repeal in 1999 allowed Wall Street to gamble with money deposited in commercial banks. Look what that moron [Gordon] Brown did! He took away control of the banking industry from the Bank of England and gave it to a bunch of tick-box bureaucrats at the [Financial Services Authority]. Catastrophic, catastrophic errors of judgement!
Sources opened+ 35 search hits considered
| [1] | federalreserve.gov |