for that reason, i've partnered with senators john mccain, maria cantwell and angus king to create the 21st century glass-steigel act. the 1933 version of glass teeing el -- glass-spheeg allayed the ground work, but throughout the 1980s and 1990s, congress and the regulators chipped away at glass-steagall's protection and a sharp increase in systemic risk. they finally finished that task with the 1999 passage of graham-leech-bliley which eliminated protections altogether. so the 21st century act would reinstate the protections, it would wall off depository institutions from riskier activities like investment banking, swaps dealing and private equity activities, it would force some of the biggest financial institutions to break apart and eliminate their ability to rely on federally-insured goes siss -- deposits as a backstop for their high risk activities. in other words, a new glass-steagall act would attack both the too big and to fail. it would reduce the failures of the big banks by making banking boring, by protecting deposits and providing stability even in bad times. and it would