Relevant:
- Repeal of Glass-Steagall: Not a cause, but a multiplier
- Citigroup's Empire-Building, Glass-Steagall-crushing ex-CEO Weill: "Break Up Big Banks"
- Glass Steagall Repeal Made Crisis Worse
- Glass Steagall Repeal Made Crisis Worse
- Rampant Bank Fraud Shows Why We Need The Consumer Financial Protection Bureau
2009-12-03 — researchrecap.com
" Beginning in the 1990’s, various administrations have taken steps to diminish the rules and regulations that protected investors. These initiatives ranged from dismembering the Glass Steagall Act, to changing the law to protect corporations from legal action by shareholders, to declawing the SEC by withholding funding and selecting pro-business leadership. The consequence of these calculated efforts has been a rampant increase in fraud and in relentless risk-taking at the expense of shareholder value and corporate stability."
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Comments:
tvsterling at 07:17 2009-12-04 said:
The whole idea of this assault on oversight & reason in the financial sector was to give Wall St the franchise to govern itself & especially to print it's own money. Actually now they don't even have to do that. They have their boy little Timmy sitting in treasury printing up real, official money for them on demand. Even though thoroughly discredited the Libertarians still run interference for the Fascists just as the Socialists used to run interference for the Communists. The big money for all this still comes from the Fascists no matter who they claim to be. So the question becomes when & how do we force these people back into the United States & under control. If we can't we will have to force them out. Permalinkadd a comment | go to forum thread
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