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Would Re-establish Key Provisions of the Glass-Steagall Act—Limiting Risk Taking by Commercial Banks, Requiring Investment and Insurance Spin-offs, Ending Era of 'Too Big to Fail'
As Congress Takes Up Sweeping Financial Reform, Report Urges Fundamental Change of Ratings Agency Model
Washington, DC — With the House of Representatives and a key Senate committee poised to vote on sweeping financial industry reforms, a new report by Demos finds that the proposed remedies fail to fully address the problems that led the credit rating agencies to become key enablers of the housing bubble and Wall Street meltdown.
Expanded Presence In Nation's Capital Will Strengthen Congressional And White House Policy Outreach, Host Public Events Series
Washington, D.C. — This week, Demos, a national, non-partisan public policy research and advocacy center, is pleased to announce two significant staffing changes:
Heather McGhee has been named Director of Demos' new Washington, D.C., office.
10 years later, the end of Glass-Steagall has been blamed by some for many of the problems that led to last fall's financial crisis. While the majority of problems that occurred centered mostly on the pure-play investment banks like Lehman Brothers, the huge banks born out of the revocation of Glass-Steagall, especially Citigroup, and the insurance companies that were allowed to deal in securities, like the American International Group, would not have run into trouble had the law still been in place.