You go girl! Keep pushing for this PLLLLLEEEEEEEAAAAAZZZZZZZZEEE!!!!!111!!!!! I'll have so much more faith in our economic future if Glass Steagall gets reimplemented.
Warren Joins McCain to Push New Glass-Steagall Law for Banks
U.S. Senator Elizabeth Warren said she and a bipartisan group of lawmakers are introducing a bill aimed at re-creating the Glass-Steagall Act, the Depression-era measure that separated commercial and investment banking.
“Banking should be boring,” Warren, a Massachusetts Democrat, said yesterday in a conference call with reporters. “Anyone who wants to take big risks should go to Wall Street and should stay away from the basic banking system.”
The bill sponsored by Warren along Senators John McCain, an Arizona Republican, Maria Cantwell, a Washington Democrat, and Angus King, a Maine independent, would separate traditional banks that offer checking and savings accounts insured by the Federal Deposit Insurance Corp. from “riskier financial institutions.” The latter category includes companies involved in investment banking, insurance, swaps dealing, hedge funds and private equity, according to the lawmakers’ statement.