http://thecaucus.blogs.nytimes.com/2010/05/06/glass-steagall-wall-revisited/Glass-Steagall Wall Revisited
By DAVID M. HERSZENHORN
Senator Maria Cantwell of Washington, one of a cadre of Democrats intent on toughening up the big financial regulatory legislation,
said on Thursday that she would insist that the Senate vote on a proposal to reinstate the Glass-Steagall Act, which would re-establish a firewall between commercial banking and investment banking.Ms. Cantwell and Senator John McCain, Republican of Arizona, have proposed an amendment to the regulatory bill that would reimpose the Glass-Steagall law, which Congress repealed in 1999.
In a brief interview outside the Senate chamber, Ms. Cantwell said that Democratic leaders had yet to agree to hold a vote on the amendment. More than 140 amendments have been submitted, but only a few of them are likely to be debated and given a roll call vote given limitations of the legislative calendar.
Ms. Cantwell said she did not think she would agree to end debate on the overall bill without a vote on her amendment.
When a reporter suggested to Ms. Cantwell that Senate leaders might try to limit the number of amendments like the Cantwell-McCain proposal that deal with the size of banks, Senator Barbara A. Mikulski, Democrat of Maryland, who also wants the regulatory bill to be tougher on Wall Street, interjected angrily.
“What is this — like landing slots at airports?” Ms. Mikulski snapped. “After we crashed and burned, there’s one landing slot?”Liberal Democrats like Ms. Mikulski are determined to stop party leaders from rushing the regulatory bill and to push amendments that would impose even stricter rules on Wall Street.
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