Tag: Glass-Steagall Act

Take Action to Keep America Safe from Wall Street

We've got to stop Wall Street from bringing us another economic disaster — before it happens.

Tell your U.S. Senators to crack down on Wall Street now.

A real financial reform package must include an independent Consumer Financial Protection Agency, restoration of the Glass-Steagall Act, and strict new limits on the derivatives market.

To protect citizens from rapacious banks, we need a Consumer Financial Protection Agency to stop abusive mortgages and credit card terms, and other predatory financial schemes.

The Glass-Steagall Act, which separated commercial and investment banking, was enacted after the financial crash of 1929, but it was repealed in 1999. It is crucial to preventing the reckless investing by commercial banks that caused some of the greatest financial disasters in U.S. history.

Rampant speculation in the unregulated derivatives market was a major factor in the collapse of the global financial system. We need tough new restrictions on the derivatives market, or speculators will continue to imperil our country's economic stability for short-term profit.

Tell your U.S. Senators today: support strong financial reform now!

My Hillary Problem

This is a tough post for me, as I have tried very hard to not criticize the candidacy of Sen. Hillary Clinton for President.  But considering the current economic crisis in America, particularly in the liquidity markets, I cannot stay silent.  Irrespective of the merits or lack thereof of Sen. Barack Obama’s candidacy, I have to say that I feel that Sen. Clinton is the wrong choice for President of the United States.

You see, it’s the economy.

In Pennsylvania yesterday, Sen. Clinton said:

We need a president who is ready on Day 1 to be commander in chief of our economy.