Nine years ago, under pressure from Wall Street, US Congress repealed the Glass-Steagall Act, which had been introduced during the 1930s Great Depression to regulate banking and control financial speculation. Now the US — along with many of its trading partners — is facing the unanticipated consequences of this decision. Colin Teese reports.No serious observer any longer disputes that the United States economy has slid into recession. Not so much slid, really, but pushed by the exces…
