Mike Malloy

[lyris]

Stop Wall Street banks from gambling with our money

The recent news that JP Morgan Chase lost at least $2 billion in a matter of weeks on hugely risky bets shows once again that we need to rein in Wall Street and stop the banks from gambling with our money.

For over half a century, the Depression-era law known as the Glass-Steagall Act kept commercial banks (where we have our checking accounts, saving accounts and the like) separate from high-risk investment banks. The government agreed to insure the deposits we make in commercial banks through the FDIC, but banks weren't allowed to turn around and use these deposits as stakes in the Wall Street casino.

That all changed in 1999 with the repeal of Glass-Steagall, which paved the way for the financial crisis and the massive Wall Street bailouts.

I just signed a petition telling Congress it's time to bring back Glass-Steagall. I hope you do, too.

You can sign the petition and find out more information at the link below.

http://act.credoaction.com/campaign/glass_steagall/?r_by=40467-1934776-h5hsRMx&rc=paste1
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Corporations weren't born with a brain a heart or a soul, people were.

Most people do know right from wrong. Corporations can never be people unless they are sociopaths. Then they would need to have strong structures to keep them from doing harm to others. Just as we have structures for people when they do harm.

[greg]

I believe when we see commercials for lottery games, there is always a disclaimer at end that states, "play responsibily." Gamblers who constantly burn though lots of cash have an addiction which requires treatment to end that addiction.

Same applies here to the a-holes on Wall Street. They are not responsible people--at least thats what I see.
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"I hold it that a little rebellion, now and then, is a good thing" Thomas Jefferson 1743-1826

[lyris]

They suffer from greed which is a mental disorder as I'm sure you know. These people are never satisfied and will always want more and more, they are obsessive compulsive and will go to any length and still will never be satisfied, just like gamblers, alcoholics and others who can't stop.
_________________
Corporations weren't born with a brain a heart or a soul, people were.

Most people do know right from wrong. Corporations can never be people unless they are sociopaths. Then they would need to have strong structures to keep them from doing harm to others. Just as we have structures for people when they do harm.