New Jersey Senate Resolution 67 urges Congress to reinstate the Glass-Steagall Act to strengthen the financial system.

New Jersey Senate Resolution 67 urges Congress to reinstate the Glass-Steagall Act, which separated commercial and investment banking to prevent speculative activities. The resolution argues that the Dodd-Frank Wall Street Reform and Consumer Protection Act failed to sufficiently separate these banking activities, leading to the 2008 recession. Reinstating the Glass-Steagall Act is seen as necessary to end irresponsible financial practices and speculative activities that contributed to the housing market collapse.

New Jersey Senate Resolution 67 urges Congress to reinstate the Glass-Steagall Act to strengthen the financial system.

New Jersey Senate Resolution 67 urges Congress to reinstate the Glass-Steagall Act, which separated commercial and investment banking to prevent speculative activities. The resolution argues that the Dodd-Frank Wall Street Reform and Consumer Protection Act failed to sufficiently separate these banking activities, leading to the 2008 recession. Reinstating the Glass-Steagall Act is seen as necessary to end irresponsible financial practices and speculative activities that contributed to the housing market collapse.