Senate Democrats not with Warren on reinstating Glass-Steagall bank act

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  1. hvactec
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    Senate Democratic leaders have shown little appetite for taking on Wall Street before Election Day, despite urging by one of their star recruits, Massachusetts Senate candidate Elizabeth Warren.

    Warren has called on Congress to resurrect the 1933 Glass-Steagall Act, which established a firewall between investment banks that traditionally specialized in speculative trades and commercial banks that historically earned money primarily from lending.

    If Warren, an outspoken critic of Washington’s oversight of the financial services industry, wins in November, it could put her on a collision course with Senate leaders.

    Senate Democratic leaders have carefully avoided a major confrontation with Wall Street this year, when millions of dollars are already flowing to Republican-allied super-PACs from anonymous donors.

    READ MORE Senate Democrats not with Warren on reinstating Glass-Steagall bank act - TheHill.com
     

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