The repeal of parts of the Glass–Steagall Act of 1933 (a Dem bill) by the Gramm–Leach–Bliley Act in 1999 (a Rep bill) removed the separation between investment banking and commercial banks which accept deposits. The deregulation allowed investment bankers to serve as officers of commercial banks. This allowed Wall Street firms to gamble with their depositors' money and led to the economic problems that started in 2007. As late as 2009 a bipartisan attempt was made made to reinstate Glass-Steagall but was lobbied against by banks.
For the 50 years that Glass-Steagall was in force, the US enjoyed a stable and productive economy. Read up on this and sign the petition. The president needs to know that you are behind strong and decisive action to reverse the problems Wall Street has caused.



