All you hear on the news is that the budget must be cut at every level --local, state and federal. But the only reason the government coffers are empty is that the “too big to fail” banks have gambled away hundreds of billions and the federal government foolishly bailed them out …. with taxpayer dollars.
The same Wall Street financial elite that financed , orchestrated and profited from the lack of regulation and oversight that lead up to the crash, are now financing the distraction – blaming unions, police, firefighters, students, teachers or anyone else they can find for the mess that Wall Street created! We are all the victims of the problem, not the cause!
The Glass-Steagall Act, passed in 1933 at the height of the Great Depression, was an instrumental tool of the recovery, and worked to keep the ‘banksters’ out of our system for 65 years. It was repealed in 1999, allowing speculators to invade the system, ballooning the derivatives market, inflating the giant bubble until the 2007-2008 crash that brought the United States and the world to the brink of financial collapse.
It is past time to reinstate this common-sense solution to the banking mess, getting speculative ‘casino’ investors out of commercial banking and returning to a system of productive banking that supports and enhances our standard of living, instead of stealing the savings & jobs of millions of Americans.
Federal and state officials from both sides of the aisle are reluctant to confront the powerful elite that paid for the repeal, but many are starting to understand how important the legislation was and will be to our recovery. In Kentucky, Louisville state Senator Perry Clark again introduced a Glass-Steagall reinstatement resolution in the 2011 session of the General Assembly. And, on the federal level there are six LaRouche Democrats running for Congress on the vital Glass-Steagall issue. Check out their information at LaRouchePAC.com.
And visit Glass-SteagallNow.com for more information and breaking news on the regional campaign to reinstitute this vital solution to the financial challenge facing the nation.
Don’t Sit on the Sidelines! Join the Fight!
Call:
Peter Visclosky 202/225-2461
Andre Carson 202/225-0411
Todd Rokita 202/225-5037
Dan Burton 202/225-2276
Mike Pence 202/225-3021
Can you identify all 4 portraits? (send to: pappajohn15@gmail.com)
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