21st Century Glass-Steagall

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21st Century Glass-Steagall gives Wall Street the shivers

NEW YORK | By Ana Fuentes | An American bipartisan group of lawmakers introduced on Thursday a bill for the 21st century Glass-Steagall Act, a new version of 1933 banking act that put a wall between investment banking and insured deposits. Aimed to protect the American taxpayers, this aggressive piece of law would reduce the size of US bigger banks, minimizing the possibility of a government bailout like in 2008. Wall street has a new headache.