Rhode Island House Resolution 5840
March 11, 2013 • 12:29PM

On March 6th, 2013 Rhode Island State Representatives McLaughlin, Bennett, and Hull introduced H5840 strongly urging Congress to "to reinstate the restrictions of the Banking Act of 1933, commonly referred to as the Glass-Steagall Act, which prohibited commercial banks and bank holding companies from investing in stocks, underwriting securities, or investing in or acting as guarantors in derivative transactions, in order to prevent American taxpayers from again being called upon to fund hundreds of billions of dollars to bail out financial institutions."