Wednesday, November 04, 2009

What Must be Done (and Undone)

Repeal these toxic laws that enabled the great Wall St. bank/investment houses consolidation and ushered in the casino speculation which caused a near meltdown and now a lingering great recession worldwide:

- The Gramm-Leach-Bliley Act of 1999
- The Commodities Futures Modernization Act in 2000

Reinstate the firewall between commercial banks and investment banks, and reinstate strong transparent regulation of all "exotic" betting speculative financial instruments including derivatives and other new schemes.

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