Simon Constable of Dow Jones Newswires explains why it ' s so important to read the minutes of the last Federal Open Market Committee meeting. Plus, Alcoa kicks off earnings season. P.S. This looks to be the ugliest reporting season for the financials year over year since Glass-Steagall was invented in 1933. "...sponsored by Democratic Senator Carter Glass of Lynchburg, Virginia, a former Secretary of the Treasury, and Democratic Congressman Henry B. Steagall of Alabama, Chairman of the House Committee on Banking and Currency. The first Glass-Steagall Act was passed in February, 1932 in an effort to stop deflation and expanded the Federal Reserve's ability to offer rediscounts on more types of assets and issue government bonds as well as commercial paper.[4] The second Glass-Steagall Act was passed in 1933 in reaction to the collapse of a large portion of the American commercial banking system in early 1933."