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Monday, August 20, 2012

The Glass-Steagall Act

The Glass Steagall Act was designed to protect us from the greed of bankers through regulation.  It was passed in the 1930's as a result of the major stock and banking collapse to regulate the financial industry and dismantled later at the prompting of banking lobbyists to allow the kind of activity that lead to  our recent financial collapse.  Instead of rules to protect the economy, bankers expect to be bailed out when there speculation goes awry.   This is a link to apetition asking for The Glass Steagall Act to be reinstated.   

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