Saw Jim Sensenbrenner at the parade the other day.
Maybe that's why he hasn't yet co-sponsored this.
To repeal certain provisions of the Gramm-Leach-Bliley Act and revive the separation between commercial banking and the securities business, in the manner provided in the Banking Act of 1933, the so-called "Glass-Steagall Act", and for other purposes.
Glass-Steagall was very effective at keeping banks in the banking business and investment houses in the investment business. The separation was deliberate, and worked well.
Then Phil Gramm--who was confused--repealed it.
Then.........well.........2008 happened.
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2 comments:
"Where's Ron Paul in this list? Bachmann? Anyone with an "R" after their name?"
I hope that's rhetorical.
It's a good idea. Why would the Grand Ol' Party support it?
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