Reinstate Glass-Steaggal

[nadinbrzezinski]

WE PETITION THE OBAMA ADMINISTRATION TO:
Reinstate Glass-Steagall.
We demand the reinstatement of Glass-Steagall. The banking industry needs to be regulated and reformed in order to prevent future economic crises and begin fixing the current recession. We can not trust the banks to regulate themselves in good faith, so it is clear that the government should step in. The banks have become massive monopolies that play by their own rules, and they continue to use deceitful practices and threaten our democracy.

"The repeal of provisions of the Glass–Steagall Act in 1999 removed the separation that previously existed between investment banking which issued securities and commercial banks which accepted deposits.The deregulation also removed conflict of interest prohibitions between investment bankers serving as officers of commercial banks."

Created: Nov 18, 2011

https://wwws.whitehouse.gov/petitions/%21/petition/reinstate-glass-steagall/LnbfH2F4?utm_source=wh.gov&utm_medium=shorturl&utm_campaign=shorturl

Given recent history... it's just noise, but I still signed it. I suggest you do as well... little by little we must put some pressure.

[HCE SuiGeneris]

1. It is way pat due, Nadin.

It was a HUGE catalyst for the looting of America.

[dkf]

2. Too late. They already heaped the credit default swaps on the deposit side.

[DeSwiss]

3. K&R n/t

[RickFromMN]

4. I wish there was a way to fix institutions, too big to fail, so they could fail.

I suspect, even if too big to fail institutions were broken up into smaller pieces,
the smaller pieces would be so interconnected, one piece failing would bring all into failure.

Could we break institutions into smaller pieces and not let the pieces be so interconnected?

Even seemingly independent pieces seem to interconnect to the extent,
the failure of one leads to the failure of all.

I still don't fully understand the interconnections between AIG, Lehman Brothers,
all the big, too big to fail, financial institutions. Apparently, they weren't independent.

[99th_Monkey]

5. At this page, there's no obvious option to simply sign the petition

without creating an entirely "new account" wanting all kinds of personal info... no thanx.

Nice idea, re: Glass-Steagall, but no cigar on getting my "signature".

[Obamanaut]

6. or "Glass-Steagall" nt

[MineralMan]

7. Well, at least they spelled it right in the Petition.

Spelling counts.

[lonestarnot]

8. But you did know what she was talking about no?

:7

[MineralMan]

10. Yes, I did, thanks.

[nadinbrzezinski]

11. Well, you understand that my fans now are reduced

To spell attacks. I find that funny, actually.

It is even funnier since they got this magical believe that somehow they are hurting my feelings.

They are not.

At least mineral is not as annoying as a few others about it.

:-)

[annabanana]

9. Done, Facebooked and Tweeted!. . . .k&r, n/t

[WCGreen]

12. Big K&R

[banned from Kos]

13. Dodd-Frank is far stronger than Glass-Steagall -- Democrats need to defend

it instead of telling others we are worthless.