Reinstate Glass Steagall Banking Act of 1933
For 55 years from 1933 to 1988, the US suffered no major banking collapses or financial crisis. But in 1980, with the repeal of key provisions of the Glass Steagall regulation along with other regulations, savings and loans were once again able to take undue risks outside the long-term public interest. Peaking in 1988, the US Savings and Loans crisis was the first major collapse of US financial assets since the great depression. But damage done by deregulation wasn't finished. In 1999, another major provision of Glass Steagall, which prevented commercial banks from acting as investment banks, was removed. We need a return to the kinds of regulations that protected our economy against the worst market excesses and manipulations.