Forum Post: we don't need to REINVENT the wheel because bringing this Act back will create an even playing field once again
Posted 13 years ago on Oct. 15, 2011, 5:50 p.m. EST by Howtodoit
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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 a lot!
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.
yes
yes
cheers to the movement!
Thnanks for this, but I feel this is the problem that was sealed in 1999.
Here's my lofty dream:
Today Congress we are here to start the wheels of governing turning in a different direction. It’s pretty obvious to me and the American people that our voice has been lost in the rambling of lobbyist's hard cash throughout the Halls of Justice.
So we are here to take back our government and restore its fundamental principals to the American people. That this government is for the people, and by the people, and not by the rich anymore.
Here’s how we plan on accomplishing this. First, ladies and gentlemen of the US Congress, we are setting up a nationwide interactive website devoted to understanding (if possible) why you vote on a particular issue, and if that vote benefits the American people the most, or one of your campaign contributors? After every vote in Congress, the American people can now see what you are thinking, or not. How? These results will be broadcasted nightly on all of the major networks and on the web.
Secondly, to maintain an even playing filed, we will next enact campaign contribution limits on a maximum of $100 for any person or corporation or so forth; so hopefully now we have an even playing field, which now the lawmaker will hopefully pick what’s right for the American people, verse big business!
Next, it gets better, we are introducing a bill that would require all lawmakers to take a lie detector test if they are asked why they voted on a particular bill.
I’m sorry to say Congress that it has come down to this, but when you deal with children, sometimes you are forced to act according.
Thanks you for your time.
thoughts?
It just addresses one small part of a much larger problem. Until we remove the money and corporate influence from Washington nothing will ever change. The elite will just throw piles of money at our politicians and get what ever we change... Unchanged. Or they will just get the politicians to make new rules that keep the game rigged in their favor.
I'm not disagreeing with anything you said. It's just that it's not addressing the real problem.