Jul 12, 2013

From Senator Elizabeth Warren: a new Glass-Steagall Act

This just in for your immediate consideration:

About a year ago, on the campaign trail, I asked PCCC members to join with me in pushing for a new Glass-Steagall bill.

This law stopped investment banks from gambling away people's life savings for decades -- until Wall Street successfully lobbied the regulators to chip away at the rules in the 1980s and Congress to repeal it entirely in 1999.

Over 100,000 people joined the fight. And now, I am proud to introduce the 21st Century Glass-Steagall Act -- along with Republican John McCain, Independent Angus King, and Democrat Maria Cantwell -- as my first big banking bill in the U.S. Senate.

Will you join over 100,000 of us in calling for more Wall Street reform, starting with a new Glass-Steagall Act? Sign here!

We learned during the 2008 financial crisis that Wall Street is not just taking risks with their own money -- they are taking risks with the whole economy.

A new Glass-Steagall would separate high-risk investment banks from more traditional banking. It would allow Wall Street to take risks, but not by dipping into the life savings and retirement accounts of regular people.

And by making banks smaller, a new Glass-Steagall could also help put an end to banks that are "too big to fail" -- further avoiding costly taxpayer bailouts.

Please help us pass a new Glass-Steagall Act. Join the fight here.

I've already talked about this petition on MSNBC, and I'll keep my Senate colleagues informed of the growing public support for this reform.

By mobilizing people across the nation, we can get this done.

Thank you,

Senator Elizabeth Warren

Want to support our work? PCCC's Draft Warren campaign was named The Nation's "Most Valuable Campaign of 2011" and Ed Schultz called us "The top progressive group in the country"! And our tiny staff ensures that small contributions go a long way. Chip in $3 here.

Paid for by the Progressive Change Campaign Committee PAC (BoldProgressives.org) and not authorized by any candidate or candidate's committee. Contributions to the PCCC are not deductible as charitable contributions for federal income tax purposes.

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Have you signed? The petition needs 130,000 signatures and 95% of the goal has been reached last I checked! If Senator Warren's effort can't decouple within big banks what fairly should be parted asunder on behalf of the common good, this may be our last chance. Failure in this effort is 'not acceptable' (as politicians like to say) and there are masses more of us than there are of the oh-so-dainty elite!

Ever since the Bush-Cheney Heist of 2008, when I think of America's big banks and the banksters and mobsters that run and profit obscenely from them, I think of the Sabian Symbol for America's Mars which turned retrograde by progression in Summer 2006 @19 Libra: "A Gang of Robbers in Hiding." However, only some of them are tucked away in ivory towers and luxuriously leathered libraries--the rest are 'hiding in plain sight' on Wall Street, usually. The mainstream media (and others) talk to them all the time and interview them even though the old southern adage "butter wouldn't melt in his mouth" applies to such varmints who behave and are treated as if they deserve some kind of respect from honest folk instead of receiving the prison sentences that crimes like fraud and theft merit in what is allegedly a law abiding society.

Mars the Warrior

A closer examination of the events of Summer 2006 might yield interesting correlations between the condition of our now-inward-turning Mars functions (motivation, energy, action, aggression, assertion) by secondary progression and the lamentably tragic Rise of the Warrior Cop where SWAT teams with no-knock warrants bring brutality and violence to the doors of non-violent American households, and family members including children are placed in great danger during overzealous raids--sometimes perpetrated at wrong addresses--oops! Oh well. How sad that police states just get a few minor details wrong sometimes.


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