Elizabeth Warren calls for more regulation following $2B JPMorgan Chase loss
Elizabeth Warren, trying to ride her reputation as a Wall Street enforcer to the US Senate, today released a new radio ad calling for enhanced government regulation in the aftermath of JPMorgan Chase’s $2 billion trading loss.
“I stood up to big banks. I took on their army of lobbyists and helped win the fight for a consumer protection agency. But there’s still more to do,” the Democrat says in the new spot.
“Wall Street isn’t going to change its ways until Washington gets serious about strong oversight and real accountability – no special deals.”
Warren is calling for a new version of the Glass-Steagall Act, the law passed after the stock market crashed in 1929 to keep high-risk banking separate from more traditional banking. It was repealed in 1999.
In an email announcing the new ad, Warren also accused her political rival, Republican Senator Scott Brown, of currying favor with Wall Street titans.Glen Johnson can be reached at firstname.lastname@example.org. Follow him on Twitter @globeglen.