{"id":36690,"date":"2013-07-12T09:06:15","date_gmt":"2013-07-12T13:06:15","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=36690"},"modified":"2013-07-12T09:38:20","modified_gmt":"2013-07-12T13:38:20","slug":"warren-proposes-legislation-to-break-up-megabanks-from-riskier-investments-like-hedge-funds","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2013\/warren-proposes-legislation-to-break-up-megabanks-from-riskier-investments-like-hedge-funds.html","title":{"rendered":"Warren Proposes Legislation To Break up Megabanks From Riskier Investments Like Hedge Funds"},"content":{"rendered":"

\"cn_image.size.elizabeth-warren\"<\/a>New York (HedgeCo.Net) – A of group of U.S. senators led by senior United States Senator Elizabeth Warren, yesterday introduced legislation<\/a> that would break up Wall Street’s megabanks by separating traditional banking activity from riskier financial services\u00a0such as investment banking, insurance, swaps dealing, and hedge fund and private equity activities.<\/p>\n

“The government should NOT be insuring hedge funds, swaps dealing, and other risky investment banking services. When the same institutions that take huge risks are also the ones that control your savings account, the entire banking system is riskier.”\u00a0Warren said in a press release yesterday. “Now it\u2019s time to launch the next push. I joined forces with Senators John McCain, Angus King, and Maria Cantwell to introduce the 21st Century Glass-Steagall Act of 2013 to reinstate and modernize core banking protections.”<\/p>\n

The bill would clarify regulatory interpretations of banking law provisions that undermined the protections under the original Glass-Steagall and would make \u2018Too Big to Fail\u2019 institutions smaller and safer, minimizing the likelihood of a government bailout.<\/p>\n

“Banking should be boring. Savings accounts, checking accounts — the things that you and I rely on every day — should be safe from the sort of high-risk activities that broke our economy.” Warren said.<\/p>\n

Alex Akesson
\nEditor for\u00a0HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a>\u00a0is a premier\u00a0hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0Hedge Funds<\/a>!<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.Net) – A of group of U.S. senators led by senior United States Senator Elizabeth Warren, yesterday introduced legislation that would break up Wall Street’s megabanks by separating traditional banking activity from riskier financial services\u00a0such as investment banking, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,3],"tags":[],"class_list":["post-36690","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-regulation","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=36690"}],"version-history":[{"count":7,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36690\/revisions"}],"predecessor-version":[{"id":36692,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36690\/revisions\/36692"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=36690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=36690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=36690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}