McRINO outdoes himself yet again.
Via Daily Caller:
Sen. John McCain’s work with Sen. Elizabeth Warren to revive the Glass-Steagall financial reform law is just the latest attempt in the Arizona Republican’s years-long battle to bring back the regulatory law.
Progressive Massachusetts Democrat Warren, a Banking Committee member and leading crusader for financial reform, introduced a bill Thursday to revive Glass-Steagall, the law passed in 1933 that separated commercial banking and investment banking. Glass-Steagall was repealed in 1999 by President Clinton, but progressives and some Republicans favor its reinstatement.
Warren’s bill would separate banks that provide checking and savings accounts from investment banking firms and hedge funds in an attempt to safeguard against another financial crisis. Conservatives are already lining up to oppose the bill.
“If Elizabeth Warren is leading the way on this bill, considering her views on [banking], then it’s probably not going to be a bill that conservatives will support in any way,” Richard Manning of Americans for Limited Government told The Daily Caller.