Which of the following was not the result of the repeal of the Glass-Steagall act in 1999?
a.Banks were permitted to affiliate with insurance underwriters
b.Commercial banks were allowed to hold a range of securities other than government bonds, which ultimately increased systematic risk.
c.The distinction between commercial and investment banks was blurred.
d.Banks were more diversified and safe because they were allowed to engage in a broader variety of financial activities