Trump considers breaking up Wall Street’s big banks

US President Donald Trump is reviewing a potential breakup of large US banks. Mr Trump said that he was considering a “21st century” version of the 1933 Glass-Steagall Law that segragated consumer lending and investment banking however was repealed in 1999. “There’s some people that want to go back to the old system, right? So we’re going to look at that” he quoted. Trump’s comments are his first about banks and follow other statements from officials such as the Treasury Secretary Steven Munchin who have expressed broad support for the idea. Including several liberal Democrats, including Bernie Sanders, have also supported a breaking up the largest banks.

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