Glass-Steagall Introduced in the Senate!
Press Release: Senator Harkin Introduces S. 985 To Reinstate Glass-Steagall
Yesterday, on the 80th anniversary of the introduction of the original 1933 Glass Steagall Act, Sen. Tom Harkin (D-IA) introduced Senate Bill 985 to reinstate Glass Steagall. While the full text of the Harkin bill has not yet been posted by the Library of Congress, the fact that there is now a Senate bill to reinstate full separation of commercial banking from all other brokerage and speculative activities is a dramatic development. The fight for Glass Steagall has now moved to a new level. (Read more . . .)
Glass-Steagall is the indispensible first step to global economic recovery. It will immediately hault the onset of hyperinflation, remove government committment from toxic debts, end too-big-to-fail, and force separation of commercial banking functions from investment banking functions. (Go to the Glass-Steagall page . . .)
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