Warren Joins McCain to Push New Glass-Steagall Law for Banks
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U.S. Senator Elizabeth Warren and a bipartisan group of lawmakers have introduced a bill aimed at re-creating the Glass-Steagall Act, the Depression-era measure that separated commercial and investment banking.
“It will take a lot of tools to get rid of too-big-to-fail, but one of them ought to be that if you want to do high-stakes gambling, good on you, but you do not get access to people’s checking accounts and savings accounts,” Warren, a Massachusetts Democrat, told Bloomberg Television’s Peter Cook in an interview today.