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Forum Post: A potential answer

Posted 5 years ago on Aug. 11, 2013, 1:41 a.m. EST by Nevis (1)
This content is user submitted and not an official statement

I found this video yesterday when I searched for videos under the tag 'occupy wall street' sorted by relevence that were uploaded with the last month. While not specifically related to the Occupy movement itself, I think it obviously is related to one of its most major concerns-the disparity between the super-wealthy and the not. The people in this video are discussing a proposal that, if enacted, will, in theory, address this by vastly changing the nature of how the government and banks interact. As I saw no threads linking to or mentioning this, I decided to post a link here.




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[-] 0 points by TropicalDepression (-45) 5 years ago

This video makes the upcoming announcement of Larry Summers as new Fed Chair even more amazing than it already is.

Summers is no renegade. Summers is the godfather of Glass Steagall's removal.

"It certainly was difficult to sell NAFTA because it's always difficult to sell open markets."

"Today Congress voted to update the rules that have governed financial services since the Great Depression and replace them with a system for the 21st century. This historic legislation will better enable American companies to compete in the new economy."

The single best piece of legislation that could be passed right now would be Glass Steagall.

I think they are a bit naive in the lead up to the passing, the markets would know it and crash before hand. Unfortunately, regardless of what their plan is, it would lead to panic.

But its something we would have to get through to get things really fixed.

We as a nation have GOT to stop taking the easy way out of every single issue.