Trump to bring back Glass Steagall. Scumbag Viper Criminal Bankers in Panic Mode! UP Next on the chopping block: The “Federal” Reserve.

This should’ve been done a long, long time ago. And now that we have a real man at the helm, it just might happen!

TRUMP PLEDGES TO BRING BACK GLASS STEAGALL 

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Glass-Steagall was first signed into law in 1933, in the depths of the Great Depression. The idea was that banks were in a weakened state, and that they shouldn’t be gambling with depositors’ funds in the stock market. What it essentially did, was prohit commercial banks from engaging in “investment” business… by separating the two: commercial and investment banking!

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In 1999, President Clinton (with the help of scumbag RepubliCucks in Congress) started by repealing part of the Glass-Steagall Act which prevented banking, insurance, and security companies from taking on a combined roll as an investment bank, a commercial bank, and an insurance company (much of what we see today). Dodd-Frank did not address this, neither did the Volcker “Rule.”

Added into the mix we now have an economy that has to contend with Obamacare, a MASSIVE welfare state, over regulation of business (not banks), over taxation, a flood of millions of needy third world invaders, offshoring and garbage imports from overseas… which has resulted in much of our pathetic economic growth over the past eight years. GDP that sits at about 2% at best… and that’s a rigged 2 percent BTW.

So what does the reintroduction of Glass Steagall mean for us?

-The Big Banks will be broken up.

-“Too BIG to fail”will not exist.

-Banks will be limited to individual states.

-Bank Assets withstood the financial meltdowns in 1987 and 1997 because they weren’t in the damn stock market.

-The mortgage industry would be a hell of a lot more stable.

-Deposit insurance, will actually be INSURED, and not gambled away.

-Savers will no longer be punished and forced to “invest” in a rigged casino (the stock “market”) to see the “possibility” of any return on their money.

-the repeal of Glass Steagall only benefited the top 10% of income “earners.” A reintroduction will benefit everyone!

-The money changers will be made accountable and might actually have to WORK for a living.

-Only the bankers fear Glass Steagall, which is reason enough to pass it!

Think about it…it wasn’t so long ago that banks only loaned out what they had on deposit, and they only loaned to those who could actually pay it back.

Banks charged a reasonable interest rate to borrowers which covered overhead, plus a profit.

The banks, in turn, paid good interest rates on savings accounts, incentivized people to become responsible and actually save their fucking money for once, savings that could then be loaned out to responsible people, and repaid to the banks and the depositors.

Under these conditions, disciplined people, frugal people prosper.

This only changed when our federal government decided that this wasn’t fair to the retards and so-called “minorities” who didn’t make responsible financial decisions.

Glass Steagall was racist!

And it created income inequality!

And it didn’t reward the lazy fat fucks and irresponsible little piggies out there!

And here we are today.

But now we have Trump in our corner.

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What will it be America?

4 Comments on Trump to bring back Glass Steagall. Scumbag Viper Criminal Bankers in Panic Mode! UP Next on the chopping block: The “Federal” Reserve.

  1. Repealing Glass-Steagall in the Gramm-Leach-Bliley Act of 1999 was a signature victory of the conservative movement’s deregulatory agenda, which was also supported by President Bill Clinton.

    The Banking Act of 1933 (Glass-Steagall) had set up a wall of separation between certain sectors of the financial services industry. These restrictions were a response to the perception (protecting the Federal Reserves prime role in the whole debacle behind the curtain) that commercial and investment banking had become too intertwined leading up to the 1929 stock market crash that banks had taken undue risk with depositors’ savings in the financial markets or were promoting the securities they underwrote to their customers, leading to conflicts of interest.

    The major component of Glass-Steagall is the separation of commercial banking, investment banking, and insurance. Reinstating Glass-Steagall would mean that, for example, United Services Automobile Association could not be both a commercial bank and an insurance company to its millions of customers. Does anyone think that would help prevent another financial crisis? It would not have prevented what Lehman Brothers, Bear Sterns, Washington Mutual, Countrywide, or AIG did up to and during the financial crisis. These firms originated, distributed, securitized and leveraged subprime mortgages, all actions that would have been allowed and worked perfectly well under Glass-Steagall restrictions.

    Glass Steagall would not materially change Goldman Sachs, Morgan Stanley, or the (Clinton backers) $2.7 trillion hedge fund industry.

    So let’s get pass all the hype and political simplicity.

    President Bill Clinton right before he left office pardoned 456 people, some of the biggest crooks and lowlifes and signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation (“Enron Loophole” anyone?). In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which gave authority through the FED (strong armed) exerted added pressure on banks to lend in low-income neighborhoods.

    The leftist are using the welfare state to destroy capitalism and private property rights.
    The international bankers are using both to steal the property.

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    • George W. Bush did a hell of a lot more to destroy housing than scumbag Clinton ever did.

      But I don’t understand your objection to Glass Steagall… You supported the repeal Joe?

      What did the Gramm-Leach-Bliley Act of 1999 deregulate other than the big banks and financial institutions?

      You don’t think we should regulate investment bank holding companies?

      If I had it my way… all these financial criminals would be lined up against the wall (from Citigroup to Wells Fargo and the rest) and taken care of.

      Why in heaven sakes would this be a bad thing for the country if reinstalled?

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      • No it wasn’t Bush, the bubble was already there when Bush got in, you have to go back to the original impetus.
        Clinton set the table : President Bill Clinton right before he left office pardoned 456 people, some of the biggest crooks and lowlifes and signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation (“Enron Loophole” anyone?). In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which gave authority through the FED (strong armed) exerted added pressure on banks to lend in low-income neighborhoods.

        Glass-Steagall just papered over the FED’s manipulations and protected the Federal Reserves prime role in the whole recession that FDR turned into a full blown depression behind the curtain artificially manipulating the economy pumping then pulling money and credit out of the markets squeezing them.
        That was Americas first experience with Federal Reserves artificial created economic boom bust cycle.
        There was at the time a real conflict between the industrialists and moneyed banker trusts that should have ended the Federal Reserve back then.
        Read up on Congressman McFadden’s Speech on the Federal Reserve Corporation Remarks in Congress, 1934, Charles A. Lindbergh Sr. 1913 fight against the Owen-Glass Federal Reserve Act.
        YUP the same Carter Glass of the famous Glass-Steagall Act.

        Now just let that sink for a minute, does it stand to chance the same guy putting forth problem/solution and fighting true American patriots like Louis Thomas McFadden who was an actual ‘real’ banker who served as treasurer of the Pennsylvania Bankers’ Association in 1906 and 1907, and Charles A. Lindbergh Sr. who published Banking, Currency, and the Money Trust, and “Why is Your Country at War?” (against the conscription in a nation who had NO desire for entanglement and Wilson’s 1916 re-election was keep us out of war ala FDR 25 years later).
        President Woodrow Wilson and his cohorts blew a fuse after examination, Wilson then ordered the confiscation of all possible copies. Agents carrying out this order found pallets of the lead plates for printing, which were melted in a refiner’s fire.

        The REAL problem is and has been the private Federal Reserve, and NO law or regulation will hinder nor change that.
        The Federal Reserve MUST GO, eventually, I mean Rome wasn’t built in a day right?
        For now disassembling the acts that keep hedge funds and all institutional monetary transactions away from scrutiny and oversight from outright fraud,speculative harm and damage to America and her economy.
        NEVER again “too big to fail”, let the markets discipline and clear out the rot, finally, start jailing these financial terrorists.
        But let’s not let their sparkles and spangles blind us.

        Like

      • From what I remember BUSH SIGNED AMERICAN DREAM ACT. But that doesn’t matter at this point…

        Nevertheless IMO this is a step in the right direction… With the ultimate goal of ending the FED!

        Like

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