Economies and Markets Crashing: — LaRouche’s Policy Must Go Through Now!

The collapse of, not just the credit markets, but the overall economies of Europe and the United States, is now fully underway. The insertion of Glass-Steagall into both U.S. political parties’ platforms is discussed everywhere; but it is only one step towards a goal which has to be reached immediately. There is no waiting until a lame-duck session, or the next Congress: It must be put through.Read more →

Glass-Steagall halts this catastrophe.

Derivatives graph

By restoring the separation between commercial and investment banking, Glass-Steagall divides the obligations in question into two distinct and separate categories: legitimate and illegitimate, the latter being far greater than the former. Immediately, we declare that the government has no responsibility to pay back losses accrued through speculative activity, thus transferring these trillions in liabilities off of the government’s books. We force the megabanks—JP Morgan Chase, Citigroup, Morgan Stanley, etc.—to split themselves in two parts: the so-called “investment arms” on the one side, and plain, old-fashioned commercial banking on the other.

You may also like...

Translate »