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brroooks (November 30, 1999 at 12:00 am)
he was right... the revolution is underway as we speak. the internet has spoken out about SOPA and Occupy movements do have an affect. I cant wait till the day everyone of us stands up for our freedom.
2020starman (November 30, 1999 at 12:00 am)
@peoplesRwe Iowa was rigged as the others ...
2020starman (November 30, 1999 at 12:00 am)
@DoninHI These four Bilderberg crooks in DC ;Alan Greenspan, Ben Bernanke, Larry Summers, Tim Geithner are stealing us blind with the repeal of GLASS STEAGAL and 800 trillions in derivatives
We must stop the deregulations in the global banking industry..Reinstate G-S ACT !! RON PAUL !!
2020starman (November 30, 1999 at 12:00 am)
@DoninHI The driving forces behind this new law were Phil Graham, Alan Greenspan (Fed Chairman), Henry Paulson (Goldman crook), Ben Bernanke, Tim Geithner, Larry Summers and many others now in the Obama administration. None of these people have suggested we go back to G-S
2020starman (November 30, 1999 at 12:00 am)
@DoninHI total failure of the SEC to regulate new creative and very risky securities called derivatives. There are now over $600 trillion in derivatives in play in the financial markets and more are being issued each week.
What is a derivative? It is something that derives its value from something else. It is not stock.
2020starman (November 30, 1999 at 12:00 am)
@DoninHI The current situation gives Wall Street a license to steal and guess what -- they are.
We need to reenact The Glass-Steagall Act and to put all derivatives under the control of the SEC regulations.
2020starman (November 30, 1999 at 12:00 am)
@DoninHI The Glass-Steagall Act said that commercial banks could not own or operate insurance companies or investment banks. The term "Investment Bank" means Wall Street firms. Investment banks issue stocks, speculate and engage in very risky behavior.
The G-S Act was the financial foundation for a stable and growing economy, but it kept hundreds of billions in depositor money away from the scammer jammers and the crooks on Wall Street.
DoninHI (November 30, 1999 at 12:00 am)
@DoninHI They laid out more than $200 million for lobbying in 1998, according to the Center for Responsive Politics. These industries succeeded in their two decades long effort to repeal the act.
DoninHI (November 30, 1999 at 12:00 am)
@DoninHI Citigroup played a major part in the repeal. Then called Citicorp, the company merged with Travelers Insurance company the year before using loopholes in Glass-Steagall that allowed for temporary exemptions. With lobbying led by Roger Levy, the finance, insurance and real estate industries together are regularly the largest campaign contributors and biggest spenders on lobbying of all business sectors [in 1999].
DoninHI (November 30, 1999 at 12:00 am)
@2020starman According to Wikipedia, many economists "have criticized the repeal of the Glass-Steagall Act as contributing to the 2007 subprime mortgage financial crisis. The repeal enabled commercial lenders such as Citigroup, the largest U.S. bank by assets,to underwrite and trade instruments such as mortgage-backed securities and collateralized debt obligations and establish so-called structured investment vehicles, or SIVs, that bought those securities. |
