What did the glass-steagall act do?

The 1933 Glass-Steagall Act separated investment banking from retail banking. After their separation, the retail banks got the prohibition to use depositors´ funds for risky investments. Retail banks accepted deposits, managed checking accounts, and issued loans. Investment banks organized the primary sales of stocks, what economists call initial public offering. The law granted power to the Federal Reserve to regulate retail banks what was a positive development for better monetary policy.

Explanation:

abraham lincoln  (february 12, 1809  – april 15, 1865) was an american statesman, politician, and lawyer who served as the 16th  president of the united states  from 1861 until  his assassination  in april 1865. lincoln led the nation through the  american civil war, its bloodiest war and its greatest moral, constitutional, and political crisis.[2][3]  he preserved the  union,  abolished slavery, strengthened the  federal government, and modernized  the u.s. economy.

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