WASHINGTON (Reuters) - A key U.S. lawmaker is set to join forces with several business groups on Wednesday to call for Congress to end the "reckless speculation" in commodity markets as the Senate prepares to take on financial reform. Senator Maria Cantwell, a Washington Democrat, will advocate for more regulation of futures markets and derivatives at a press conference at ...

After the Wall Street crash of 1929, Congress enacted Glass-Steagall, a law preventing banks from engaging in securities trading. In 1999 Congress repealed Glass-Steagall and Wall Street crashed nine years later. A coincidence? Sen. John McCain (R-AZ) and Sen. Maria Cantwell (D-WA) think not. They have quietly introduced legislation that would bring ...

Two senators, one from each party, called Wednesday for breaking up large financial firms that perform both commercial and investment banking, adding a wrinkle to already difficult talks in the Senate on how to regulate Wall Street. Sens. John McCain, the former Republican presidential ...

Taking aim at Wall Street titans, two US senators unveiled legislation on Wednesday to restore a 1930s law that would force banks to choose between their commercial and investment activities. The proposal from Democratic Senator Maria Cantwell and Republican Senator John McCain would restore the Banking Act of 1933, better known as the Glass-Steagall law, which was repealed with a ...