Petition statement to be delivered to The United States House of Representatives, The United States Senate, and President Barack Obama

Reinstate the Glass-Steagall Act

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Reinstate the Glass-Steagall Act

To be delivered to The United States House of Representatives, The United States Senate, and President Barack Obama

Petition Statement

We are in the midst of the greatest transfer of wealth to a scarce few individuals and banks, all of it being done within the boundaries of laws that the bankers themselves have either written or paid well to have written.

Glass-Steagall prevented this egregious behavior and must be reinstated.
There are currently 113,654 signatures. NEW goal - We need 125,000 signatures!

Petition Background

Provisions of the Glass-Steagall act directly supported a more level economic playing field and a six decade rise of a more egalitarian financial system and strong middle class. It did so by limiting the power of financial institutions. Its 1999 repeal permitting mergers of commercial and investment banks ushered in the current era of reckless and potentially ruinous banking practices which in 2008, brought the USA and the world to the brink of financial disaster. Despite notable legislative efforts to correct this, intensive lobbying from the banking industry has seen to it that essentially nothing has changed. The economy remains at great risk.

Our banking system must be brought back to serving the people first while reliably sustaining the economy that supports us all, rather than abetting any further drain on its lifeblood by the wealthiest among us.

Stability in America depends upon a viable middle class. The Glass-Steagall act provided excellent protections for that class and the economy as a whole. While it will require updating to better function in the modern world, its reinstatement will go a long way to provide a powerful economic safety net that will more reliably limit ongoing risk to the strongest economy in the world.

Contact your legislators, sign this petition: Reinstate the Glass-Steagall Act now.

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