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| Sen. Elizabeth Warren (D-Mass.) |
Sen. Elizabeth Warren (D-Mass.) has thrust anti-big bank policy into the 2016 presidential Democratic primary, presenting a new political challenge for frontrunner Hillary Clinton.
Warren's re-introduction on Tuesday of Glass-Steagall, which would require big banks to split up commercial and investment banking, is popular amongst the liberal base.
Proponents contend that President Bill Clinton's repeal of the legislation in 1999 was part of deregulation that contributed to the 2008 economic collapse, an allegation that many economists — and the Clintons — vehemently dispute.
"Getting rid of Glass-Steagall didn't have anything to do with the crash. ... Everybody acts like I sat in a closet and said, 'What can I do for Wall Street today?'" Bill Clinton said at a financial conference last year. "Let me remind you, that bill passed 90-8 in the Senate."
More: www.thehill.com
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