Why Glass-Steagall? Why Now?

As signs in Wisconsin announce support for Egypt, and as new nations daily add their voice to the call for justice, it is clear that each of these protests is no local phenomenon. Humanity as a one is reacting against the last four decades of globalization, against food prices artificially increased due to the hyper-inflationary bailout of Paulson, Bernanke and Obama, which has distributed trillions of dollars to the bankrupt, casino-style financial system recently identified by the Financial Crisis Inquiry Commission report to have been a fraud, and to have caused the financial crisis we are now deeply engaged in.

Governors, city councils, public service employees, and citizens in general are turning on each other, blaming one another as the cause of "excess spending;" but these attacks are missing the point. What the FCIC report details, which British-puppet President Obama has refused to acknowledge, is that this crisis was caused by the decades-long process of eliminating critical banking regulations, which separated the worthwhile functions of the economy from the speculation of financial predators, as seen especially in the deregulation of financial derivatives, and the 1999 repeal of Glass-Steagall. Now cities and states are bankrupt, drowning in a state of collapsing revenue and increased demands for aid, with no hope of change in sight.

Glass-Steagall, if reinstated last year, would have prevented this condition. President Obama opposed it then, as now, because the reinstatement of Glass-Steagall will destroy the entire system of the London-centered empire, as not only hedge funds and other financial institutions are forced into bankruptcy, but as governments everywhere, led by the United States, will have reasserted the priority of their citizens' welfare, and the integrity of their national economies, over the failed bets of Wall Street whores and their British imperial mother. Once reinstated, and the trillions of dollars of worthless gambling debts are wiped off the books, the Federal government can issue credit towards productive projects such as NAWAPA , to reverse the collapse of physical production, and give emergency aid to the states.