Glass-Steagall Resurrected?
Cross-posted with Mother Jones Is the Glass-Steagall Act, the Depression-era law that blocked commercial banks from participating in riskier investment banking, set for a revival? That’s what a new piece of legislation, introduced yesterday by Senators Maria Cantwell (D-Wash.) and John McCain (R-Ariz.), would do, forcing major changes to financial titans like JPMorgan Chase, Citigroup, and Bank of America. But first, here’s McCain on the new legislation on CNBC: Reestablishing... Read More
