To: Rep. Paul Cook (CA-8)
Break up the big banks
The Dodd-Frank Financial Reform Act is not working to clean up the banking industry. Look at J.P. Morgan-Chase's multiple-billion dollar trading losses. Congress must get it right. Reinstate Glass-Steagall Act before we have to bail out the banks again.
Why is this important?
Reinstate Glass Steagall Act. Force the banks to get out of the securities business and stick to traditional banking, like making loans.