Maine Senator Angus King wants to make banking boring again
Sen. Tom Carper (D-DE), Sen. Joe Manchin (D-WV) and Sen. Angus King (I-ME) speak to reporters on Capitol Hill, July 9, 2013 in Washington, DC.
Here's a truly awful advertising tagline that would go nowhere on Madison Avenue: "We make banking boring again". But is it possible that Wall Street needs this slogan?
Senator Angus King of Maine, an Independent who has been working with prominent Democrats and Republicans, says yes. Five years after the financial collapse, King is trying to bring back the Glass-Steagall Act, originally created after The Great Depression to split up commercial and investment banking. That restriction was later repealed in 1999 under the Clinton administration.
He joins Marketplace Morning Report host David Brancaccio to explain. Click on the audio player above to hear more.