Internet Anthropologist Think Tank: re-inact theGlass-Steagall Act of 1933

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    Friday, November 21, 2008

    re-inact theGlass-Steagall Act of 1933

    Any one not believe we are in a depression?
    Banks did it to the USA citizens again.
    And still doin it.

      Much like the loans made by banks for real estate to bad credit risks, and then sold to Government agencys, the profit for the banks is not in the intrest rates but in bundling the loans and re-selling them.( 2007 subprime mortgage financial crisis.)
      The repeal of the Glass-Steagall Act of 1933 was a good example of the Lobbyist buying the politicians. There were links to the Great Depression and American Banks, hense theGlass-Steagall Act of 1933, to seperate banls from the investment arena.
        I have seen bank interest rate charges of 99%. Yes thats 99% interest a year. USA used to put the Mafia in prison for that.
        Now with banks incorporated in States without consumer protection laws and lobbyist to buy legislation protecting the criminal enterprises the banks are becoming a criminal enterprise enabling criminals and eventually terrorists.
        The Mafia just didn't have the right lobbyists.

    More bad news coming, credit card paper bubble will burst.



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