Most of us have been calling for a reinstatement of Glass-Steagall as part of financial reform for some time, supposedly the calls falling on deaf ears.
Now the House of Representatives is discussing Glass-Steagall.
Glass-Steagall is the 1933 legislation which put a firewall between commercial and investment banking. It was repealed by the notorious Gramm-Leach-Bliley Act of 1999 and has been pinpointed as a major source of economic woe ever since including this recent financial crisis.
Please call your House Representatives and ask them to reinstate Glass-Steagall. To find your Representative, click here. Please call or fax them to demand Glass-Steagall be reinstated.
You know financial lobbyists will fight tooth and nail on this one, so the public will needs to be very loud and clear to try to overcome the lobbyists' control of Congress. Call, Fax, call again!