Could Warren’s New Bill Force 2016 Contenders to Tackle Too-Big-To-Fail Banks?
(COMMON DREAMS) Deirdre Fulton — In a move explicitly aimed at reining in risky Wall Street excess, a bipartisan group of lawmakers led by Sen. Elizabeth Warren on Tuesday introduced what they call a “21st Century Glass-Steagall Act” that would restore the wall of separation between investment and commercial banking.
While its sponsors say the proposed legislation (pdf) would protect taxpayers and make “Too Big to Fail” institutions smaller and safer, its introduction has the added benefit of putting Democratic frontrunner Hillary Clinton in the hot seat on Wall Street reform.