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Aim is a Glass-Steagall Act

Anonymous Coward
User ID: 1950560
09/25/2011 05:16 AM
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Aim is a Glass-Steagall Act
According to the Associated Press, New York Police detained about 80 people, which tried to organize a protest march against U.S. financial institutions, which, in their opinion, are responsible for creating the current crisis in the U.S. economy. Protesters, called "Occupywallstreet", hold more than a week in a protest tent camp near the New York Stock Exchange, promoting calls to protest against the "financial terrorism" of financial institutions on Wall Street. Protesters outraged by the reduction in the U.S. budget spending and corruption.

Today, demonstrators took to the streets of New York with the slogan "Money for health care, not for corporations," "Taxes for the rich." The main participants of the demonstrations were young people, who chanted his slogan: "Occupy the Wall Street all day, all week."

However, police in New York came pretty hard, starting a mass arrest of demonstrators. As a result, several demonstrators were beaten and were arrested 80 demonstrators. The "Occupywallstreet" first became known from the publication in the newspaper «Adbusters» on June 13, 2011, which began gathering of protesters in New York following the example of 15M in Spain, which were previously "occupied" Sol square in Madrid.

«Adbusters» - is a newspaper whose headquarters is located in Vancouver, Canada. In recent years, the publications in the newspaper «Adbusters» attracted public attention with his articles and satirical commercials against the cult of consumption. Among other requirements of the newspaper «Adbusters»: the U.S. refusal of most of its military bases, stationed around the globe, restoration of Glass-Steagall Act, the organization of the fight against Wall Street, referred to as "financial Gomorrah of America." Although other actions of protesters from Occupywallstreet are largely nature of propaganda, special attention should be given their demand for restoration of the law Glass-Steagall Act, which is far thirties already helped the U.S. to cope with a major financial crisis.

Glass-Steagall Act (Glass-Steagall Act of 1932), which was adopted in February 27, 1932 in the form of making the temporary amendment to Section 16 of the U.S. Federal Reserve, required separation of investment operations of banks with deposit and lending operations of banks. After entering into force of this Act, U.S. banks engaged in securities trading, it was forbidden to engage in their placement. The authors of the law believes, that it is the investment activities of U.S. banks in 1920 and caused the stock market collapse and the Great Depression in the United States.
And for the opinions of the authors, there is good reason, since before the Glass-Steagall Act, banks in the speculative fever, invest their assets in securities that significantly increases the risk for commercial and savings depositors of these banks in case of sharp declines in stock market...
More: [link to hainanwel.com]

User ID: 287857
United States
09/25/2011 09:43 AM
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Re: Aim is a Glass-Steagall Act
fortitudo et spes

When Japan happened I responded: "The Excrement Has Impacted the Rotary Oscillator." and clearly it has.
Thread: The Excrement Is Striking the Rotary Oscillator
"Ego et Dominus sumus amici"
Ego et mea umbra

'Man does not have the right to develop his own mind. This kind of liberal orientation has great appeal. We must electrically control the brain. Some day armies and generals will be controlled by electric stimulation of the brain.’
- U.S. government mind manipulator, Dr. Jose Delgado, Congressional Record, No. 262E, Vol. 118, 1974
Realeyesrealizereal​lies. C.

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