Senator Elizabeth Warren has introduced a bill that would make the biggest banks simpler and smaller and once again end the public subsidy to Wall Street speculation.
By requiring banks to focus on lending to the real economy, the 21st Century Glass-Steagall Act would point the way toward a financial system that better serves consumers, small businesses and the nation as a whole.
Petition to Congress
We urge you to co-sponsor and work for passage of the 21st-Century Glass Steagall Act. Like its New Deal-era namesake, this bill would erect a wall between traditional banks and the risky world of investment banks and hedge funds.
More than five years after the financial crisis, the biggest banks are bigger than ever, and still engaged in large-scale financial speculation. Not enough has been done to end their "Heads I win, tails the public loses" practices. This legislation would make banks less massive and complex, and curtail their ability to use government guarantees to fuel Wall Street speculation. It would be a big step toward ending the era of banks that are Too Big to Fail – and jail, manage, or regulate.
We ask you to do all you can to get this crucial legislation enacted.