Economist William Enghdal: Pres. Obama must reinstate Glass-Stiegle Act

[JohnyCanuck]

Run time: 11:53 https://www.youtube.com/watch?v=vsPq-6kIkvM   Posted on YouTube: February 28, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: March 02, 2009 By DU Member: JohnyCanuck Views on DU: 2479

 
Enghdal basically says in this interview that if the Glass-Stiegle Act is not reinstated, he believes banking reform is a lost cause and will fail. You can view other Real News videos posted on Youtube here: http://www.youtube.com/user/TheRealNews

[Number_Six]

1. Put it back and then some

I'd add:

1) Dump the so-called "reform" of 2005 to our bankruptcy laws and allow debtors to clean house. This law was put into place by Citicorp and other banks so they'd still get their blood money.

2) Eliminate the "Enron loophole".

3) Make the buying or selling of debt instruments ILLEGAL. This was the primae faci of the current mess. That was the trigger on the bomb itself, not sub-priming.

The only way such can be sold? The loan office, bank, whatever are insolvent and seeking Chapter 11. Otherwise, you bought it, you own it.

4) Full public disclosure: Any bank or lending firm that gets bailout monies MUST open their books to a public audit. Otherwise, go piss up a rope.

I think those would get the ball rolling.

[grannie4peace]

3. AMEN!!!!!!

[peacetalksforall]

5. How do we get Obama to listen to your points, the Engdahl words,

Krugman, and other voices.

I'm becoming convinced that protecting these bankers and wall street is leading to a pit for all of us - the bankers, the people. Those who were 'authorized' by deregulation to play games that are now out of control are still protected by allowing them to have the only say.

I thought it was good to keep some of the masterminds around because they knew how it happened, but I don't see them helping us, they are only helping themselves - more of helping themselves to our money.

It seems we're authorizing more of the same.

How do we get to Obama?

[Qutzupalotl]

10. I'm not being flippant here, but I think they read their mail.

They have said they are open to all good ideas.

http://www.whitehouse.gov/contact/


Also, Joe Biden's leading a task force on strengthening the middle class. Since anything that stabilizes the economy would help the middle class, you could submit these ideas on this page:

http://www.whitehouse.gov/strongmiddleclass/

[DaLittle Kitty]

16. I Think That I'll Submit A Compilation!

There are certain people who are right on in one way or another Engdahl, Hudson and Krugman!

[readmoreoften]

17. Wasn't Summers one of the ones who overturned it in the first place?

I think he intends to listen to his cabinet picks. The largest group to fund Obama was the financial sector. My guess is he has his orders already.

[Qutzupalotl]

9. These are great ideas.

Maybe start a thread on this to get more eyes on it.

[Enthusiast]

2. I agree that banking regulation should

be a priority. That alone could help bring about increased confidence.

[vaberella]

4. Exactly. More regulation already in place will only increase voter confidence. n/t

[DaLittle Kitty]

13. John Russell Called For Reinstatement of Glass Steagel During the Campaign

Front page list of requirements including re-regulation and prosecution of Big Time Offenders that Russell listed for economic stimulus... www.johnrussellforcongress.com

[Enthusiast]

14. I'd vote for him if I lived in Florida nt

[avaistheone1]

6. Reinstatement of Glass-Stiegle Act is long overdue.

[DaLittle Kitty]

15. Russell IS Right In Line W/ These Economists Who Call For Sanity!

:think: www.johnrussellforcongress.com

[Festivito]

7. Minor. I hope the April 2004 SEC unlimiting bank lending is gone.

There are other ways to deal with conflict of interest. If we cannot think of another way, then repeal appeals to me.

[jakeXT]

8. The video isn't even on his homepage

http://www.engdahl.oilgeopolitics.net/index.html

But Kucinich's adviser Hudson goes even back to Babylon
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x278863

[muntrv]

11. And while they're at it, burn the Graham-Leach-Blilel Act.

[ihavenobias]

12. K & R n/t