Breaking News about Breaking Up Banks! Sen. Harkin Introduces Senate Bill 985 to Reinstate Glass-St

In a heartening development, Senator Tom Harkin has introduced Senate Bill 985 to reinstate Glass Steagall. The Glass Steagall Act of 1933 was originally enacted in response to the failure of 5,000 banks during the U.S. Depression.
"It gave tighter regulation of national banks to the Federal Reserve System; prohibited bank sales of securities; and created the Federal Deposit Insurance Corporation (FDIC), which insures bank deposits with a pool of money appropriated from banks." - The New York Times

This is huge and the start of turning everything around for the better.
Glass-Steagall Introduced in the Senate Youtube video

Yesterday, on the 80th anniversary of the introduction of the original 1933 Glass Steagall Act, Sen. Tom Harkin (D-IA) introduced Senate Bill 985 to reinstate Glass Steagall. While the full text of the Harkin bill has not yet been posted by the Library of Congress, the fact that there is now a Senate bill to reinstate full separation of commercial banking from all other brokerage and speculative activities is a dramatic development. The fight for Glass Steagall has now moved to a new level. The introduction of S. 985 came the same day that the 20th state legislature introduced a resolution urging its Congressional delegation to support Glass Steagall reinstatement. This week, both Delaware and Illinois introduced such resolutions. In addition, the Regional Council of the Tuscany Region of Italy passed a resolution calling for "Banking and Legal Reform According to the Glass Steagall Act." In the House of Representatives, Rep. Marcy Kaptur (D-OH) has already introduced H.R. 129 to reinstate Glass Steagall. Rep. Walter Jones (R-NC) was the initiating co-sponsor and there are now 62 sponsors and co-sponsors on the House bill. Lyndon LaRouche today congratulated Sen. Harkin for introducing S. 985 in spite of massive counter-pressure from the Obama White House and the Senate leadership. "This is a very important new development," LaRouche declared. "It will have very significant impact for very obvious reasons. All of the efforts to suppress this action have been defeated. This is a new game. The agenda has changed. Despite all of the efforts to prevent this action, Sen. Harkin has taken the initiative. This is not yet a complete victory, but it shows that the situation is not as hopeless as the Senate Leader had hoped."

Senator Harking Introduces S. 985 to REinstate Glass-Steagall

At last, something we can really do about business as usual.
Contact your senators now to support Senate Bill 985 to Reinstate Glass-Steagall.
[url=http://www.opencongress.org/people/zipcodelookup]To find your senator info click hereurl]

reply to post by DiscreteParticle


It's the Federal Reserve Bank and it's cronies in the Treasury Department whom have allowed these banks to get into the derivatives fraud!

As admirable as this act of smoke and mirrors is, how does it solve anything when the fox is still guarding the hen house?

It is time for the Congress to do their intended jobs and be in charge of our monetary system, instead of turning it over to a globalist bank!

I go to bed at night and scream at my creator for allowing me to see thru the smoke and mirrors that most of my fellow countymen/women blindly allow these things to happen......

The Treasury Department doesn't work for the people! It works for the banks! The IRS doesn't work for the people, they work for the Federal Reserve Bank!!!! WTF?????

reply to post by seeker1963

It's the Federal Reserve Bank and it's cronies in the Treasury Department whom have allowed these banks to get into the derivatives fraud!

Sure was when the government want to crack down on the derivatives Alan Greenspan said no. We need to do one of two things with the Federal Reserve.
1. Take control over it.
2. Get rid of it.

The agenda has changed. Despite all of the efforts to prevent this action, Sen. Harkin has taken the initiative.

Sorry to put a negative spin on this but, if the Rothschilds didn't want this to happen, it wouldn't.

Just like Mamma Rothschild said, "If my sons didn't want wars, there would be none."

No Senator is bigger than the worlds only Trillion-airs, they control American and World Banking.

reply to post by DiscreteParticle


Putting the Federal Reserve in charge of regulating the banking industry is like putting the fox in charge of the hen house. However, the idea of putting the banks in charge of solving their own problems is great. The problem is that didn't work in 2008.

Originally posted by BoogieMan911

The agenda has changed. Despite all of the efforts to prevent this action, Sen. Harkin has taken the initiative.

Sorry to put a negative spin on this but, if the Rothschilds didn't want this to happen, it wouldn't.

Just like Mamma Rothschild said, "If my sons didn't want wars, there would be none."

No Senator is bigger than the worlds only Trillion-airs, they control American and World Banking.

BoogieMan, no, you are wise and I thought of that, too. But then I thought, take it. Whenever we give an inch we lose a mile. I don't see how this can hurt and I see how it can help because it is time-proven since 1933. I am going to push for every ray of sunlight I can.

"It gave tighter regulation of national banks to the Federal Reserve System"

Ugghh, I don't support this. How about we look at what the Federal Reserve has been up since its inception.

Let's see your papers Federal Reserve!

Originally posted by buster2010
reply to post by seeker1963

 

It's the Federal Reserve Bank and it's cronies in the Treasury Department whom have allowed these banks to get into the derivatives fraud!

Sure was when the government want to crack down on the derivatives Alan Greenspan said no. We need to do one of two things with the Federal Reserve.
1. Take control over it.
2. Get rid of it.

I concur.

Holy hell prepare for a keiser report with actual good news. But in my opinion this will probably be repealed as soon as possible, if not work arounds are allways available.

What would happen if this got up and Obama refused to sign it into law?

Or if he refuses to sign any bill?

Won't happen our corporate masters won't allow it. When was the last the the government did anything that would benefit the American people and not the corporations?

Originally posted by wantsome
Won't happen our corporate masters won't allow it. When was the last the the government did anything that would benefit the American people and not the corporations?

I hear you, but we had it at one time. To me it is already good news because a senator proposed it, demonstrating there is at least one good guy in the Senate. When they are brave we must support them with full force. We can't leave them hanging. We cannot demand action and then fail to do our part.

come on people
how have so many people posted and so few have seen right through this?
giving the federal reserve more regulation over every other bank would be going in the wrong direction
i could see this passing with their lobbyists and paid politicians...
this would essentially mean the FEDs would have centralized control over all banking finances... remove levels of competition, and probably loose big on the international markets with such little banking in REAL money... no demand for goods and services that aren't military related (since thats all america seems to produce for global markets)... no gold or other tangible items of value
sorry that seems harsh but just saying the worlds changing and its a big world, america doesn't seem to be going in the right direction, at least not from what their mainstream media show
cant say up here in canada is making any better 'Official' decisions in the political offices
but hopefully the times will be changing and the tides turning soon enough here

I'm sorry for my forgetfulness. When exactly did the gov do something that didn't cost us thru the nose and fall apart anyway?

Another excerices in futility. This is about as likely to happen as an audit of the Fed.

Currently we see people on both political sides putting forth bills that pander to each sides base, knowing the bill won't pass.

The purpose of this is to keep the elected official in office.

Other examples of bills meant to make the base happy but known to be unpassable are related to:

Gay Marriage
Guns
Any other polarizing social issue.

This is so you are entertained as your standard of living goes down, and your kids standard of living will be worse than your yours

Originally posted by GoldenRuled
I'm sorry for my forgetfulness. When exactly did the gov do something that didn't cost us thru the nose and fall apart anyway?

Well the Homeland Security since 9/11 DID cost us through nose, but ISNT falling part as it continues to inconvenience you, your friends, your family.

I support this but it's too little, too late. The damage has been done.

The parasite laid its eggs and now it has control of the host's brain.

At this point, does it even matter what legislation is passed considering the regulators are owned by the financial system and there is zero oversight and enforcement? The criminals control everything, they don't care about "laws".

Whether we force a return to a healthy market, or the manipulators are allowed to keep running the show, an epic correction of mass proportion is coming either way. Hang onto your butts.

The jaded naysayers are probably right. The ideal would be to get rid of the fed as a previous poster suggested. Okay, so what do you consider something than would/could/or should be a step in the right direction. Do you all consider everything so woebegone that you are hoping for an armageddon-style restart? I am really asking is there any fiscal legislation you would like to see. Thanks in adavnce.

Originally posted by LastStarfighter


Well the Homeland Security since 9/11 DID cost us through nose, but ISNT falling part as it continues to inconvenience you, your friends, your family.

I KNOW! Every time they cry for money I always volunteer dismantling Homeland Security but nobody has taken me up on it yet.

Originally posted by METACOMET
Hang onto your butts.

its HOLD on to your butts, point well taken, good post