Frankly, Barney, You Were Never Kosher
By Rachel Brinkley
(Rachel Brinkley, née Brown, was the last Democratic challenger to Barney Frank, when she ran against him for Congress in 2010. She literally ended his political career, exposing him as the Wall St. whore he has always been.)
Open response to Barney Frank's recent Boston Globe op-ed: "Trump’s financial plans promise another Great Recession"
Barney Frank has chosen to position himself once again in the defense of untruths designed to mislead the American public.
His claims regarding what would be the effects should his Dodd-Frank bill be repealed, are as full of loopholes as the bill itself. Barney must be assuming that the population is so stupid that they are unable to realize that the economy has continued to collapse for the last 16 years! The living standard has fallen, life expectancy is down, suicides and drug-related deaths have skyrocketed. As an advisor to Hillary's losing campaign, Barney should realize that sticking so close to Wall Street has failed. We must have a total change in policy, not more of the British-run policies of the recent two decades. There are two major aspects which he leaves out of consideration:
First, is the subject of physical economy; i.e., the increase of real wealth resulting from increased rates of physical productivity. China's “New Silk Road” policy is positively affecting 70 countries and 4.4 billion people, through focusing on the construction of new transportation routes and energy development, including the building of high-speed rail and more efficient ports, electrifying rural regions, and partnering in advanced scientific cooperation with other countries. This is a current, living demonstration of how to positively affect net rates of physical growth. Monetary processes must always be subordinate to this physical science of increasing economic productivity, as our great Treasury Secretary Alexander Hamilton detailed in his three most famous reports to Congress.
Second, Barney pretends there is not a mass social movement for the reinstatement of Glass-Steagall, as seen by the adoption of Glass-Steagall in both the Democratic and Republican party platforms this summer, and as was called for by President-elect Trump in the latter days of the campaign, in addition to Democratic presidential hopefuls Martin O’Malley and Bernie Sanders. The adoption of Glass-Steagall would cancel all of Barney's peculiar arguments, allowing for a complete reorganization of the entire economy—joined with investments into science-driver economic projects like the space program and fusion energy.
Barney’s arguments for Dodd-Frank’s success are simply stupid. Attempting to influence armed robbers by limiting the hours they can be out in public, does not amount to an effective deterrent. Bailout Barney then claims, in regard to the Bush-Obama so-called rules which would supposedly prevent another 2008-style collapse, that "these rules evolved into the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was designed to prohibit abusive practices…," i.e. that repealing Dodd-Frank would allow abusive practices to come back! But, Barney, when did the abuse stop? Not one single banker has seen jail time for their known frauds affecting the lives of millions of people!
See a Wells Fargo agent for more details.
Only a Glass-Steagall reorganization of the economy with credit for new technological economic platforms will work, as clearly laid out in Lyndon LaRouche's Four Economic Laws. We need a full FDR-style approach to lift our nation out of collapse and into renewed prosperity. This means we have to take on Wall Street, and reorganize the banking sector to play a legitimately useful role in our national economy.
As Franklin Roosevelt said, "We know now that Government by organized money is just as dangerous as Government by organized mob... They are unanimous in their hate for me—and I welcome their hatred."
It is time to take FDR's approach, and welcome their hatred. Barney Frank's time is up.