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John McCain wants to reinstate Glass-Steagall

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Partnering with one of my own senators, Maria Cantwell, to introduce legislation that would bring tighter regulation to banks. I’ve said before that I think Glass-Steagall, the Depression-era reform law aimed at keeping investment and consumer banks separate, is a good idea. I’m happy to see this despite the long odds and opposition from President Obama and his economic team of Wall Street alums.

Still waiting to hear why reinstating Glass-Steagall is a bad idea. Any thoughts?