Steve Mnuchin Walks Back Administration Support of Glass-Steagall
President Trump isn’t interested in restoring the Glass-Steagall Act, reversing prior claims made by White House officials. Treasury Secretary Steve Mnuchin said Thursday that the administration doesn’t support the segregation of retail and investment banking—the crux of the Depression-era legislation. “We think that would have a very significant problem on [sic] the financial markets, on the economy, and on liquidity, and we think there are proper things that we could look at around regulation,” Mnuchin said. “But we do not support a separation of banks…