Icahn Calls For Resurrection Of Glass-Steagall Act

Law360, Los Angeles (February 11, 2014, 9:11 PM EST) -- Billionaire activist investor Carl Icahn on Tuesday called for the return of the Glass-Steagall Act, a Great Depression-era law that split investment and traditional banking, just one day after he withdrew his proposal for Apple Inc. to launch a $50 billion buyback program.

In an interview with Fox Business News on Tuesday, Icahn said he thought the removal of the Glass-Steagall legislation, which was passed in 1933 as the Banking Act and repealed in 1999, was one of the “real problems” that contributed to the 2008...
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