GOP wants a new Glass-Steagall for banks

Published July 18, 2016 11:10pm ET



The finalized GOP platform announced Monday at the Republican National Convention calls for the effective breakup of megabanks through the imposition of a new version of the Depression-era Glass-Steagall separation of investment and commercial banks.

Nevertheless, apart from that surprise plank, which is commonly associated with anti-Wall Street populism and was championed by Sen. Bernie Sanders in the Democratic primary, the platform includes more standard advocacy of less government regulation. The document calls the 2010 Dodd-Frank financial reform law signed by President Obama a “legislative Godzilla.”

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