Forum Post: Hear's one way to get Focus on a Washington Goal
Posted 13 years ago on Oct. 10, 2011, 9:38 p.m. EST by BringBackGlassSteagallAct
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my note:
You all are great! This great financial reform movement has been a dream of mine since 2008, after hearing Congressional Hearing on Energy Reform and on how financial deregulations hurts the average hard working Americans, and turns undeserved brokers/executives into overnight Billionaires!
So I feel the only way we can get back on safe financial footing again is to close the Enron Loophole, created for energy/oil speculators, and bring back The Glass-Steagall Act of 1933, which prevented the current banking and insurance scams/loopholes. After all, it worked great until late 90's, until when Congress threw it out. Since then, like prior to 1933, we are experiencing what our country went though then, total Wall Street Greed with no Penalties, its all legal Gambling now...thanks to the architects of our new system in 1999, President Clinton and Rep Senator Phil Gramm. Think about were we are now, it all started in 1999 with the subprime loans Gramm was peaching on Senate floor. http://www.youtube.com/watch?v=gKQOxr2wBZQ&feature=related
And for the Free Trade Movement, bringing back the Glass-Steagall Act will not hurt our financial markets or hinder Free Trade, as the GOP rhetoric claims, instead with this back in PLACE bankers can still make millions a day, but not the trillions as they do now on the accounts of hard working Americans.
Bankers need more regulation, not less. Don't let the Bankers new Game to charge for debit cards as the results of the Dodd/Frank Wall Street Reform and Consumer Protection Act surprise you. Right after it passed, we have the banking lobby on national TV saying that "we "will pay for it, after we bailed them out, What nerve! So this is their response to having it their way since 1999: We have have to find a way to give out Executives their way out of line bonuses: Bingo, charge for debit cards!
Cheers to all that are involved. Let's get focused and bring back Glass-Steagall Act of 1933, they got it right 1933, we don't need to reinvent the wheel because bringing this Act back will create an even playing field once again....and let's tell Congress to finally Close the Enron Loophole, which allowed Enron to charge what they wanted for energy; they went to jail for this, but no one closed the loophole, why? re-election Monies from the banks and oil companies! The writing is on the wall.
Why we need Glass-Steagall to be reinstated:
http://www.investopedia.com/articles/03/071603.asp#axzz1aPEc3wXj http://www.counterpunch.org/2008/09/19/shattering-the-glass-steagall-act/
Why are oil prices high?
http://www.youtube.com/watch?v=waL5UxScgUw http://www.youtube.com/watch?v=zbdtTGYQBMU&feature=related http://www.youtube.com/watch?v=PNp0y0SjOkY&feature=related http://www.youtube.com/watch?v=f-kExdTgNZA&feature=channel
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