Posted 2 years ago on Feb. 24, 2012, 7:35 a.m. EST by arturo
from Shanghai, Shanghai
This content is user submitted and not an official statement
As your U.S. Senator I would introduce Representative Marcy Kaptur’s [OH-9] House Resolution H.R. 1489 in the U.S. Senate. H.R. 1489 is the anti Wall Street greed legislation. It would revive the separation between Commercial Banking (checking, savings, and business loans) and Investment Banking (speculation). The Glass-Steagall Act (1933-1999) would be reinstated and it would separate legitimate liabilities from gambling debt; Glass-Steagall would separate real assets from factious assets, (derivatives) in our banking system.
2nd Hamiltonian Credit System
After Glass-Steagall bankruptcy reorganization our banks will have too few real assets remaining and would have to be re-capitalized. I will vote to reestablish the Hamiltonian Credit System, a Third National Bank.
3rd NAWAPA Infrastructure
The proposed 1960’s North American Water and Power Alliance was never funded. NAWAPA is a ten year infrastructure project that’s large enough to be an economic driver. With a Glass-Steagall financial system and a Hamiltonian Credit System it would be possible to start the NAWAPA, economic driver project.