You old enough to remember what Bill did?

Crossville TN

Description

Wall Street trading houses accepting uninsured deposits resulted in the banking crisis of the early 1930s when thousands of "banks failed" and people rushed to pull their money from uninsured banks. Congress passed the 1933 Glass-Steagall Act "banning" the combination of investment banks/brokerage firms with federally-insured (taxpayers) banks. (Federal deposit insurance was also created under the Glass-Steagall Act to restore confidence in the U.S. banking system.) The Glass-Steagall Act served the nation well for 66 years until its "repeal" under the Bill Clinton administration in 1999, allowing "trading firms to merge" with federally-insured, deposit-taking banks. It took just nine years without Glass-Steagall for Wall Street to collapse in 2008 housing crisis. *Bill Clinton's campaign promise "it's your right to own a home". (Pandering for votes) Immediately followed by the repeal of the Glass-Steagall Act, forcing banks to give loans that could not afford them, with lose lending by the banks. They blamed the banks. It is never Democrat policy; they are great at re-writing history for political gains. It’s long past the time to restore Glass-Steagall and permanently separate the nation’s taxpayer-backstopped banks from the Wall Street casino. AMERICA IS NO LONGER A GREAT OR PROSPEROUS NATION. It is the top 1% wealthiest taking your $$$. You are about to find out that you cannot spend your way to prosperity, it would not work in my home either. It only causes more debt and higher interest, death spiral. When interest rates go up, so does that $31 Trillion debt. We will no longer be able to pay Social Security, Medicaid, Pension plans or any other false promise. Ponzi schemes! "Stagflation" is high inflation and low growth (GDP); you cannot print your way out of it anymore.