Wednesday, May 23, 2012

Interesting...all the players are described here...including both democrat and republican congress people, bush, and clinton. If you think one party is better than the other, you should really watch this.

http://www.pbs.org/wgbh/pages/frontline/money-power-wall-street/

After both republicans and democrats in the House and Senate voted to pass the Gramm-Leach-Bliley Act in 1999, and Clinton signed the bill, the Depression era banking reform Act, Glass-Steagall, was effectively repealed, enabling banks to begin trading derivatives privately (without disclosure). 

Disclosure is necessary to enable investors to make informed decisions about the stocks they trade, especially when these stocks involve banks, as most stocks do these days.

This non-disclosure caused the financial crisis which still looms overhead, starting with the mortgage crisis, and 'ending' with the instability, or insolvency, of the banks involved.  I say, 'ending', because there remains a very real threat to the future of banking and finance as long as the G-L-B Act is upheld.

Banks were behind this outrage.  If it had not been before, our government was bought by The Banksters, with then mob boss Citibank, in 1999.

Worse, nothing has been done to prevent these shady business practices from causing another financial crisis.  Our government simply threw money at the problem.  Congress voted to enable this action, and Bush signed off on it. 

Obama has done nothing to really resolve the issue, either.  There is more disclosure now amongst the minor players.  Now, doesn't that sound familar.

Our government is crooked.  What can we do about it?  The Occupy movement is now criticized, and perceived as a circus. 

What needs to happen is the G-L-B Act should be repealed, and more oversight created, but so long as the democrat and republican parties are in control of our government -- more precisely, as long as banks are in control of our government -- we are powerless to stop these problems.

I don't know about you, but I have not voted for bankers to run our country.

We, the people of the United States, no longer have control of our own government.  We are slaves to the corporate machine, yet we bicker about partisan issues.  We seem completely oblivious of the fact that our two major parties are simply two sides of the same coin -- a coin minted by commercial banks and businesses.