The following is a statement by former congressional candidate, Diane Sare (NJ -5)
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 10th 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.”
However, given that it is so very obvious to all cognitive individuals of good will, that the average wage earner should not be forced to pay the excessive gambling debts of a millionaire or billionaire crook, and our cities and states should not be looted to bail out 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 of their subject peoples and economies. 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.
As far as the British Empire is concerned, the trans-Atlantic system has been sucked dry. The US and western Europe have substantially collapsed in terms of production of physical goods. In the US, the net worth of families has dropped by almost 40% since 2007! In many American neighborhoods, it is common to see one foreclosed-upon home per block! Therefore Russia and China are the new targets for loot. President Putin of Russia has made it very clear that Russia is not about to be a looting ground for the British Empire, and President Putin is one of the critical factors in preventing World War III as of this moment, by refusing to allow an invasion of Syria.
It is time for Americans to remember why we fought the American Revolution against the British Empire! We were right then, and Lyndon LaRouche is right now! Glass Steagall is just the first step, but implementing it now would have the effect on Wall Street and the British Empire that Joshua’s famous trumpet had on the walls of Jericho.
Four new congressional co-sponsors have signed on to the Glass-Steagall bill, HR 1489, in the last week, but we need hundreds on board to ram it through. So get out your trumpet, and get on the horn to your Congressman or woman, and demand that they sign on now. The time is much shorter than you think.