LETTER: Time to sign Glass-Steagall Act is now

Talk about it

To the Editor:

There have been numerous editorials in the recent days on the urgent necessity of reinstating the 1933 Glass-Steagall Act, including from FDIC Director Thomas Hoenig in the June 10 Wall Street Journal and Luigi Zengales in the Financial Times. Their arguments are clear and helpful in refuting the lies told by notorious Congressman Barney Frank and others that “Glass-Steagall would not have prevented the current crisis.”

It is so very obvious that the average wage earner should not be forced to pay the excessive gambling debts of Wall Street, or to bail out this criminal activity by Goldman Sachs or JP Morgan Chase, among others, why is this such a fight?

It is such a fight because the implementation of Glass-Steagall means the end of the British Empire, and the end of the reign of their puppet President Barack Obama.

Throughout history, empires have sustained themselves like giant parasites, sucking the blood of the productive sector. Policies of “free trade” and “globalization” simply facilitate this looting of other people’s labor and creativity. This is why you will find that the people who oppose the reinstatement of Glass-Steagall also must support the NDAA, killing civilians with drones, and provoking warfare, including thermo-nuclear war, as President Obama does.

It is time for the Americans to remember why we fought the American Revolution. Implementing Glass-Steagall now would have the effect on Wall Street and the British Empire that Joshua’s famous trumpet had on the walls of Jericho.

Sixty-seven co-sponsors have signed on to the Glass-Steagall bill, HR 1489, but we need hundreds on board to ram it through. So get out your trumpet, and get on the horn to your congresswoman, and demand that she sign on now. Call your senators to introduce a companion bill.

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