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The 21st Century Glass-Steagall Act introduced by Elizabeth Warren

justabubba

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finally, we have someone in congress willing to stand up to the too-big-to-fail banks
all this does is return to what existed before 1999
when taxpayer exposure to massive losses was not provided to banks

...Landmark legislation was introduced in the aftermath of the 1929 Wall Street crash as a way to insure savings and checking deposits and reduce the likelihood of future meltdowns, in part by separating such banking from riskier finance operations.
Deregulation prevailed in the early 1980s and the original Glass-Steagall Act was repealed altogether in 1999, a move some experts have blamed for the 2007-2008 financial crisis.

“Despite the progress we’ve made since 2008, the biggest banks continue to threaten the economy,” bill sponsor Senator Elizabeth Warren, a Democrat and a top financial watchdog in the US Senate, said in a statement.

“The 21st Century Glass-Steagall Act will reestablish a wall between commercial and investment banking, make our financial system more stable and secure, and protect American families.” ...
Warren introduces bill to stop banks from making risky investments | The Raw Story

Elizabeth Warren for President 2016
 
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