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Forum Post: Knock out Wall Street with One Punch

Posted 12 years ago on Sept. 25, 2011, 9:22 p.m. EST by riethc (1149)
This content is user submitted and not an official statement

There are two bills in Congressional committee waiting to be brought to the floor of Congress: Marcy Kaptur's HR 1489 and Maurice Hinchey's HR 2451. If either of these two bills are passed by Congress, it will restore the Glass-Steagall Act, a law which had kept financial institutions separate, by enforcing by law that banks either be commercial banking institutions (mortgages, savings, etc.) or financial investment institutions (derivatives, CDOs, etc.).

Originally, this law came into being in 1933 during the Great Depression. Over time, its provisions had been eroded by many new laws until it was, for the most part, completely overturned in 1999 with the Financial Services Modernization Act (aka. the Gramm-Leach-Bliley Act).

Congressmen, such as Byron Dorgan, spoke on the floor of Congress before the vote on the Gramm-Leach-Bliley Act and warned that this would lead to a disaster in the financial system. (1) Dorgan goes as far a forecasting the collapse of the financial markets and the ensuing bailouts.

Now, over ten years after the repeal of Glass-Steagall, we can see the repercussions of removing the firewall between investment and commercial banking. Restoring the Glass-Steagall Act now, will break up the "too big to fail" banks and force them to sink or swim based on their own fiscal integrity.

No more bailouts for the banks. Support HR 1489 and HR 2451. Demand Glass-Steagall now!


  1. http://www.youtube.com/watch?v=OvnO_SH-4WU&feature=results_video&playnext=1&list=PL325E5EF5DAB7D072



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[-] 1 points by tolitobaracks77 (7) 12 years ago

Lets not forget about Corporations abusing the At Will Doctrine when terminating frivolously or in other words FUCKING! people over to lie cheat and steal for a bonus. Unions need to educate more and pay more for arbitration!

[-] 1 points by riethc (1149) 12 years ago

Unions cannot afford educating and pay for arbitration when the whole financial system is supporting a dead, rotting corpse, such as Wall Street. Get rid of Wall Street's kleptocracy and we can deal with corrupt corporate influences after that.

Demand Glass-Steagall.

[-] 1 points by GandhiKingMindset (124) 12 years ago

Great idea! Seems like a good way to go. So how do we force the issue? Gandhi and ML King fortunately gave us a users manual. I think you should block the entrances to this new green zone they’ve set up around wall st. They can’t expand it forever. They are afraid of your non-violence because it makes them look bad. I urge you to engage in peaceful non-resistance. Get the media near you and then zip tie yourselves together by the hundreds and SHUT DOWN WALL ST FOR A DAY. Yours is a just cause. That little 3 or 4 block area of Wall St is responsible for much of the world’s suffering. We did this in the 80′s with apartheid. I spent quality time with Abbey Hoffman personally discussing his tactics. I’ve studied King and Gandhi relentlessly and I’m telling you, you have them on the run. You have a growing movement and you’re getting the world stage. But now you need to use it.

[-] 1 points by riethc (1149) 12 years ago

Thank you for reading my article. Try watching the video link as well.

[-] 1 points by riethc (1149) 12 years ago

I don't think we are ready to zip tie ourselves together and shut down Wall Street. We need a demand first.

[-] 1 points by GandhiKingMindset (124) 12 years ago

The 1 demand could be "shut down Wall St. because it's hurting the American people and citizens of the world and it's ruining our environment. When they don't comply, engage in peaceful non-resistence by blocking the entrances to Wall St. The world will see hundreds of young innocent Americans being rounded up and this will cause a real crisis that will bring the corruption out into the light of day for all to see. The power structure will do almost anything to avoid this. They can't take the light of day. Their actions and the logical conclusion of their mindset can't stand in the light of say. By shutting down Wall Street for a day, you will establish your level of resistance and people around the country and the world will join you. You have the stage. But that's not enough. You need to do something with it. The key is linking each other together physically because they're not equipped to handle 30, 50, 100, 300 people connected in a human chain. And the world will be watching as you successfully shut down Wall St. for a day. You have them scared behind the scenes. Now is the time to act calmly, lovingly and tactically in a non-violent way. Peaceful non-resistance. This is how King and Gandhi did it. Your demand is: "Shut down Wall St. because it's hurting Americans, citizens of the world and ruining the environment." And when they fail to do so, you do it for them in a non-violent way. "We shut down Wall St. for a day so America and the world could breathe for a day, be free of the oligarchy for a day, be free of the exploitation for a day, be free of the greed for a day. Some people will say 'What good is a day?'. Our response is that it's a pretty good start. If someone has their foot on your neck for years and years, non-violently forcing that foot to be removed for a day allows you breathing room for all sorts of options. To shut it down, you new human chains blocking each of the entrances to this new green zone they've created around Wall St. Those suits have to get in so, by definition, there will always be entrances to block. If you link yourselves together, you will essentially create an enormous traffic jam and no one will be able to get into the area including the Wall St. suits. You will shut down Wall St. for a day if you use this tactic.

[-] 1 points by riethc (1149) 12 years ago

Once Glass-Steagall is restored Wall Street won't have the means to exist anymore. Demand Glass-Steagall then we can tie ourselves together in a collective mass action.