Loading ...U.S. Senators Put Glass-Steagall on the Agenda
July 9, 2015 (EIRNS)—Senators Elizabeth Warren (D-Mass.), Angus King (I-Me.), John McCain (R-Ariz.) and Maria Cantwell (D-Wash.), introduced a 21st-Century Glass-Steagall Act on July 7, finally putting the crucial FDR-style legislation before both Houses of the U.S. Congress. HR 381, Rep. Marcy Kaptur’s bill (S.1709) for reinstating Glass-Steagall protections, currently has 60 co-sponsors.
Within minutes of Sen. Elizabeth Warren’s announcement, the City of London’s Financial Times published an understated note from their Washington, D.C., correspondent (“U.S. Senators Plot Glass-Steagall Resurrection”), admitting that while London counts on the Republicans to block the bill, it “will cause concern among big ‘universal’ banks.”
more http://larouchepub.com/pr/2015/150709_glass_steagall_senate.html