Solved by verified expert:Financial Services Modernization Act of 1999, commonly called Gramm-Leach-Bliley.Why were several banks interested in terminating the Glass Steagall Act? Explain the repeal of the Glass Steagall Act. What led to the repeal of the Act? – 25 pointsThe following article will help you build up this question: Are Citigroup’s troubles evidence that Glass-Steagall repeal was a colossal mistake? (Links to an external site.)Links to an external site.. Feel free to use other sources.Who did propose the Financial Services Modernization Act? Who did sign the Financial Services Modernization Act? – 10 pointsWhich were the arguments used to introduce the Act? – 10 pointsExplain IN DETAILS the Financial Services Modernization Act of 1999 and the relationship STEP BY STEP with the Great Recession of 2007-09 – 35 points (PLEASE NOTE THAT THIS QUESTION WEIGHTS THE HIGHEST ON THIS DISCUSSION)Another video to assist you on the interpretation of these events: Bill Clinton Admits “I Was Wrong” (Links to an external site.)Links to an external site.Bibliography – 5 points
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