Haruna. No bank needs regulation in the first place to avoid criminal activity.


                                        
                                                                    
                                
                                                                            
                                            


                                        
                                        
                                            


                                            
                                            
                                                                                                    
                                                        


                                                    
                                                    
                                                        


                                                        
                                                        
                                                        
Haruna,
                                                       
We've seen all the headlines: JP Morgan Chase took risky bets and lost two  billion dollars in a matter of weeks.
  CEO Jamie Dimon called the bets "poorly reviewed" and even  "sloppy." He added, "We will learn from it, we will fix it,  and we will move on."  
  Frankly, I don't think we should just trust Wall Street banks to regulate  themselves. Because as we learned during the 2008 financial crisis, they  are not just taking risks with their own money -- they are taking risks with  the whole economy.
  That's why today, with the Progressive Change Campaign Committee, I'm  calling on Congress to put Wall Street reform back on the agenda and to begin  by passing a new Glass-Steagall Act. This was the law that stopped investment  banks from gambling away people's life savings for decades -- until Wall Street  successfully lobbied to have it repealed in 1999.
  Will you join us in calling on Congress to hold Wall Street  accountable and pass a new Glass-Steagall Act? Click here to stand with us!
  A new Glass-Steagall would separate high-risk investment banks from more  traditional banking. It would allow Wall Street to take risks, but not by dipping  into the life savings and retirement accounts of regular people. 
  And by making banks smaller, a new Glass-Steagall could also help put an end to  banks that are "too big to fail" -- further avoiding costly taxpayer  bailouts. 
  Wall Street's risky bets nearly brought the economy to its knees in 2008.  But instead of taking responsibility, Wall Street lobbied to water down the  Dodd-Frank financial reforms of 2010 and fought to weaken the reforms Congress  passed.
  It has become clear over time -- and made even clearer this past week --  that additional Wall Street reforms are needed. 
  Please join us in urging Congress to put Wall Street reform  back on the table -- and pass a new Glass-Steagall Act today.
  If I'm elected to the U.S. Senate from Massachusetts, I promise this  difference from my Republican opponent Scott Brown: I will be a reliable and  strong champion for commonsense Wall Street reform. But we don't have a moment  to waste. 
Together, we must urge Congress to act now.
                                                        
Thank you,
                                                        
                                                        
Elizabeth
                                                        
                                                        






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