News Archives: Tagged Glass-Steagall
INTERNATIONAL BUSINESS TIMES: After $2B JPMorgan Loss, Senate Candidate Elizabeth Warren Calls For ‘New Glass-Steagall Act’
In the wake of JPMorgan’s $2 billion trading loss, U.S. Senate Democratic candidate for Massachusetts, Harvard Law professor and former White House adviser Elizabeth Warren is calling for a new Glass-Steagall law to separate investment and commercial banking. Warren, a Democrat who is challenging Sen. Scott Brown, R-Mass., in a nationally watched race, says JPMorgan’s bungled derivatives trading demonstrate a need for a new Glass-Steagall Act. She sent out an email with the Progressive Change Campaign Committee — a group that has raised more than $700,000 for her candidacy — to push for stronger financial regulations. [more]
