The Glass-Steagall Act, before its repeal in 1999, prohibited commercial banks from
A. issuing equity to finance bank expansion.
B. engaging in underwriting and dealing of corporate securities.
C. selling new issues of government securities.
D. purchasing any debt securities.
Answer:B
The Glass-Steagall Act, before its repeal in 1999, prohibited commercial banks from
A. issuing equity to finance bank expansion. B. engaging in underwriting and dealing of corporate securities. C. selling new issues of government securities. D. purchasing any debt securities.