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Elizabeth Warren Introduces 21st Century Glass-Steagall Act

At today’s Senate Banking Committee hearing, Elizabeth Warren introduced the 21st Century Glass-Steagall Act of 2013, co-sponsored by Senators McCain, Cantwell, and King. This new bill mirrors the original 1933 Glass-Steagall Act, which separated traditional banking activity (like checking and

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Posted in Too Big To Fail

Wall Street and Main Street Grew At the Same Pace From 1940-1980. Since Then, Not So Much. Why Is That?

The Growth of Compensation For Most Americans Has Slowed This chart, a simplified version of a figure from the Financial Crisis Commission Inquiry Report, shows that from 1940-1980 the financial and nonfinancial sectors both grew at the same pace. Since

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Posted in Inequality, Wall Street Washington

The Rise of Too Big To Fail, In One Chart

This chart shows that “too big to fail” is a relatively recent phenomenon in the United States—one that only really surfaced over the past 15 years with the slow erosion of Glass-Steagall (among other factors). It’s a chart that shows

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Posted in Too Big To Fail

These 3 Laws Would Actually Reform Wall Street, and They Deserve Your Support. See Why.

Sometimes Wall Street reform seems completely hopeless. After all, it’s been over four years since the collapse of Lehman Brothers, and we still haven’t seen much change. However, there’s good reason to keep up the fight.  Right now there are

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Posted in Wall Street Reform

Quotes About Glass-Steagall

Quotes About Glass-Steagall - Luigi Zingales The beauty of Glass-Steagall, after all, was its simplicity: banks should not gamble with government-insured money. Even a six-year-old can understand that, which is why former chairman Paul Volcker endorsed the principle in 2009.

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Posted in Quotes

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