Banks Should Be Boring!

[cali]

Sen. Elizabeth Warren starts campaign to force banks to be boring

Sen. Elizabeth Warren has launched a campaign to make banks boring again as she pushes legislation to enact stricter regulations forcing deposit-taking financial institutions out of the investment business.

The Massachusetts Democrat wants to reinstate the Depression-era Glass-Steagall law, which separated what she called boring checking and savings accounts that are backed by the Federal Deposit Insurance Corp. from risky investment banking.

And after joining three other senators Thursday in introducing a bill to do that, Warren went to the Twitterverse to rally support.

She urged her Twitter followers to retweet the message, "Banks should be boring." She emailed her political backers asking them to support her 21st Century Glass-Steagall Act, which she introduced along with Sens. John McCain (R-Ariz.), Maria Cantwell (D-Wash.) and Angus King (I-Maine).

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http://www.latimes.com/business/money/la-fi-mo-elizabeth-warren-banks-boring-glass-steagall-20130712,0,5006617.story

[msongs]

1. nice to see at least one democrat in a leadership position tackling wall street nt