Right now there is a bill sitting in Congress titled The Return to Prudent Banking Act of 2011, which you can find by going to the Library of Congress web site and then typing HR1489 into the "Search Bill Summary & Status" area. When this bill goes through, it will be a complete reinstatement of the Glass-Steagall Act. Its original sponsor is Democratic Representative Marcy Kaptur from Ohio and there are now over 50 co-sponsors. Of course, the banksters don’t want Glass-Steagall in the memories of any beings in the 99%, and certainly they do not want it traveling through Congress as a threat to their unbridled greed party—so close Congressional friends of banksters have been trying to keep this as quiet as possible. My Democratic Rep is one of the fifty cosponsors of HR1489, however my two Republican senators seem to be, um, not interested. After I called these two senators’ offices to let them know that I am interested in having a pro-Glass-Steagall bill started in the Senate, I recieved lovely letters from both telling me that the Dodd-Frank Wall Street Reform and Consumer Protection Act has already taken care of what needs to be done. Clearly, that is not so, as we are not out of our entaglement with the criminal banks.
Since Glass-Steagall is being talked about all of the time now, I believe that if more of the "99%" call their Representative's office in DC, call their Senators' offices in DC, politely but firmly tell their people that they want their voted-in Congress person to co-sponser HR1489 or help start a sister Glass-Stegall bill in the Senate....the bill will start moving again! You can find all of their phone numbers at the Library of Congress web site.
If HR1489 was somehow forced through both branches of Congress, passed in the House and also initiated and flown through the Senate, this would be a tremendous step in limiting the gambling & destruction powers of the banksters. As I understand it, this would also bring the debt way down as the (non-FDIC) unruly banking would be weeded out and returned to the bankster institutions that engaged in it.