Can We Blame Our Economy On The Repeal Of The Glass-Steagall Act?

constructonomics

What is the Glass-Steagall Act you say? I said the same thing.

Thanks...John

www.constructonomics.com

JLTrim

It certainly led up to it, but I guess the blame should be placed on the nature of fractional reserve banking itself, interest, and the corrupt or inept central bank regulating it.

__________________
Please support a new, independent WTC investigation!
Architects & Engineers for 9/11 Truth
World for 9/11 Truth

cleveman

Sure we can blame it.

WNYcarpenter

That article didn't do a very good job identifying what regulations that particular legislastion entailed and were rescinded by Clinton in 1999. It "blurred" together facts and stated Clinton.

By that time, the 2000 presidential election was well underway, thus had it been seen (at the time) to be significant given current events the republican majority would certainly have reversed clintons descision, had they seen the future.

With that said the banking industry took off and so did the economy, depending on your point of view....you could say Clinton is responsible for the glorious economy Bush had the privilage of, or Clinton is responsible for our current economy, so Bush didn't do his Due Diligence....

__________________
"I knew I lost my wallet as soon as I threw my pants over the fence". -'lil jarhead bro when asking for a wire transfer...

freemason21

first and formost its about 1:30am here and im half asleep. if someone what i say doesnt make sense i apologize.

we most certainly can and SHOULD blame our current economic situation for the repeal of it. our problems however started in 1913 when congress handed over the rights to print our money to PRIVATE BANKERS! these same people that control and print our money, also run the banks. In other words, they can print money, then lend it out. these people (and i say these people because no one know exactly who runs the federal reserve) caused a panic in 1910, what they did was call back every single loan they had out, and of course no one could pay them back because they would invest money they didnt have to begin with. after this happened they convinced congress, and bribed them. they told congress if they were in control of the money supply the market would never crash again. then 20 years later the great depression happened, and we've had 13 recessions since then, so why hasnt the federal reserve been shut down? the fact that congress repealed the act is insane. our economic situation is the end result of the federal reserve act of 1913. before we can establish a solid currency, the federal reserve needs to be shut down.

ron paul 2012