Deregulation is a recurring idea. After the stock market crashed in 1929 and caused the Great Depression, legislators at the time were wise enough to know that placing restraints on business was an appropriate move. One of the most important laws that was put in place to regulate the stock market and the corporate world was the Glass-Steagall act of 1932. This law prohibited banking institutes from merging with insurance companies. By doing this, it was thought, dangerous conflicts of interests could be avoided thereby averting another financial crisis.
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