Tell Senators to co-sponsor Elizabeth Warren’s Senate Bill.1282 21st Century Glass-Stegall Act of 2013. The current three Senate cosponsors are, Cantwell D, King Ind, and McCain R.
The primary purpose of the 1933 Glass-Steagall Act, also known as “The Banking Act” made banking safer by prohibiting banker speculation in securities. Glass-Steagall established a firewall between banking and securities firms.
The act was repealed in 1999 in a bi-partisan effort, the Gramm-Leach-Bailey Act which President Clinton signed into law November 12, 1999.
Why is your Administration opposed to reviving Glass-Steagall??
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