Has the notion that the seeds for the 2008 Great Recession were sowed with the scrapping of the Glass-Steagall Acts firewall between commercial banks and securities activities become entrenched as an accepted part of conventional wisdom? The popular misconception may become more than just a debating point for those who favor increased regulation of financial markets. By setting the stage for restoring the Glass-Steagall wall, this myth could end up undermining Wall Streets place as the leader in world finance. And with that, damage the U.S. economy.
Financial columnist Jonathon Trugman…

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