A Trump Adviser From Wall Street Wants to Bring Back Glass-Steagall – Please 

A Trump Adviser From Wall Street Wants to Bring Back Glass-Steagall – TheStreet

“The remarks echo rumblings from President Donald Trump’s orbit regarding establishing a modernized version of Glass-Steagall, the Depression-era law repealed under the Clinton administration in 1999.

Cohn reportedly made the remarks in a meeting with senators and staffers organized by Senate Banking Committee Chairman Mike Crapo, an Idaho Republican.

And on Thursday Sen. Elizabeth Warren, D-Mass., and three other senators reintroduced a bill they had been advocating for in recent years called the “21st Century Glass-Steagall Act.” The bill seeks to separate commercial lending institutions from their investment banking divisions but it has yet to mobilize significant support among lawmakers on Capitol Hill. The timing of the move was likely an effort to capitalize on momentum from Cohn’s comments.”

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