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Forum Post: Reform Wall Street by Taking away their powers "once again."

Posted 2 years ago on Oct. 17, 2011, 7:35 p.m. EST by Howtodoit (1232)
This content is user submitted and not an official statement

Here's how we can easily Reform Wall Street: Take away their powers "once again." And a Million People March on The Hill will help get it done!

For example, "We are here Congress because we want to bring REINSTATE the Glass-Steagall Act of 1933 http://www.investopedia.com/articles/03/071603.asp#axzz1aPEc3wX which help saved our country from the Great Depression by preventing investment companies, banks, and insurance companies from merging and becoming large brokerage firms; instead of just being Banks and Insurance companies--why can't we learn a history lesson here Congress? Btw, why did most of you vote for its final repeal in 1999? http://www.counterpunch.org/2008/09/19/shattering-the-glass-steagall-act

Think about where we are now, it all started in 1999 with the subprime loans Senator Phil Gramm was peaching on Senate floor. http://www.youtube.com/watch?v=gKQOxr2wBZQ&feature=related

Furthermore, we also want you to CHANGE the Commodities Future Modernization Act of 2000 http://en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000 BACK to where it was before 2000, which since has deregulated energy markets and consequently allowed for such scams as The Enron Loophole; whereas in the early 2000's Enron Corp. was charging 400 bucks plus for a kilowatt hour...They all when to jail for this. But, the Enron loophole is still not closed, for example, allowing speculators to resell barrels of oil over and over again before it reaches the gas station owner. It's basically, legal gambling at our expense. What were those lawmakers thinking then? What are you thinking now? Either do the right think, or you're part of the 1%."

Why are oil prices high? The Enron Loophole

http://www.youtube.com/watch?v=zbdtTGYQBMU&feature=related

http://www.youtube.com/watch?v=PNp0y0SjOkY&feature=related

Rolling Stones Reporter: Truth about Goldman Sachs--how they have cornered the markets--basically, The Enron Loophole and the Repeal of Glass-Steagall Act in 1999. http://www.youtube.com/watch?v=waL5UxScgUw

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 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.

6 Comments

6 Comments


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[-] 2 points by gerryb (37) 2 years ago

Right on. Limit the power of the government, and the big corporations will no longer coddle up to it and seek to gain favor and special exceptions, and advantage over their smaller competitors via gov't force

[-] 2 points by Howtodoit (1232) 2 years ago

perfect! let's keep the pressure on the lawmakers! Thanks

[-] 1 points by urbanrage (8) 2 years ago

Amen to that Brother !!

[-] 1 points by Howtodoit (1232) 2 years ago

Thanks. Let's keep it upu! we can make a change by re-building the walls that were taken down for the rich

[-] 1 points by Howtodoit (1232) 2 years ago

Yes!

[-] 1 points by RillyKewl (218) 2 years ago

I keep sayin' it + sayin' it, people: Write or Call your senators + representatives. Insist that they REPEAL Gramm-Leach-Bliley.