States Rally To Break Up Big Banks
Eighteen state legislatures say that banks are not too big to break up. Lawmakers in these states are in the process of introducing legislation that calls on Congress to take on the institutions that caused the financial crisis. Maine and South Dakota have approved a Glass-Steagall resolution, while state Houses from Arizona to Illinois have expressed interest in this school of thought. Democratic Senator Elizabeth Warren led the charge but has so far had little success on a federal level. So do these states have what it takes to hold Congress’ feet to the fire and finally demand accountability for the greed of big banks? Bob English from the Prime Interest team is here to weigh in.
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