By Robert A. Vella
Senator Elizabeth Warren (D-MA) renewed her call for a new Glass-Steagall Act this week that would reinstate the 66-year long banking regulations which were undone by President Bill Clinton and Republicans in 1999. The move by the popular progressive senator obviously puts 2016 presidential frontrunner Hillary Clinton on the hot-seat, for the former First Lady, U.S. Senator, and Secretary of State has been rightly criticized as being a corporatist and as being way too close to Wall Street.
Bill Clinton has asserted that his repeal of the Depression-era law had nothing to do with the 2008 financial crisis and subsequent Great Recession. From The Hill – Warren bill could create headache for Hillary:
Sen. Elizabeth Warren (D-Mass.) has thrust anti-big bank policy into the 2016 presidential Democratic primary, presenting a new political challenge for front-runner Hillary Clinton.
Warren’s re-introduction on Tuesday of Glass-Steagall, which…
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