Nation's woes caused by pols, big bankers
I see in the news where the ex-CEO of Citigroup, Sanford Weill, says it's time to break up the big banks. Mr. Weill, your bank is the reason for the bad economy we have now.
In 1997, your bank merged with Travelers Insurance, and under the Glass-Steagall Act, this was not legal. The Clinton administration chose to do nothing about it. Two years later and $86 million in campaign money, the Gramm-Leach-Bliley Act was passed (deregulation of the financial sector banks, investment banks and insurance companies). So why did three Republicans want to deregulate the financial sector when it didn't work in 1929?
We have all heard the adage, "If it's not broken, don't fix it." Unlike the politicians of the early 1930s, the ones we have today are interested only in the billions of dollars the lobbyists hand out and not the job they were elected for.
If you have any technical difficulties, either with your username and password or with the payment options, please contact us by e-mail at email@example.com