Unlikely duo sponsor bill to reinstate Glass-Steagall
(NEWSER) - John McCain, reconnecting with his inner maverick, has teamed up with liberal firebrand Maria Cantwell on a bill to break up Wall Street banks by reinstating the Glass-Steagall Act. The Depression-era law, dumped a decade ago, enforced a split between commercial banking and investment banking. The effort to bring it back, which will earn McCain and Cantwell the ire of both Wall Street and the Obama administration, has little chance of success, but is aimed at sending a message that not enough’s being done to change Wall Street. More»
