Would Re-establish Key Provisions of the Glass-Steagall Act—Limiting Risk Taking by Commercial Banks, Requiring Investment and Insurance Spin-offs, Ending Era of 'Too Big to Fail'
As Congress Takes Up Sweeping Financial Reform, Report Urges Fundamental Change of Ratings Agency Model
Washington, DC — With the House of Representatives and a key Senate committee poised to vote on sweeping financial industry reforms, a new report by Demos finds that the proposed remedies fail to fully address the problems that led the credit rating agencies to become key enablers of the housing bubble and Wall Street meltdown.
