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.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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