The Enemy Within
By: Guest Authors
By Glen Goodrum
Those that don’t learn from the past are doomed to repeat it.
In 1933, in the wake of the 1929 stock market crash and during a nationwide commercial bank failure and the Great Depression, two members of Congress put their names on what is known today as the Glass-Steagall Act . This act separated investment and commercial banking activities.
GSA set up a regulatory firewall between commercial and investment bank activities.This would have prevented today’s housing crash and Bank crashes.
On November of 1999 Congress repealed the GSA with the establishment of the Gramm-Leach-Bliley Act , which eliminated the GSA restrictions against commercial and investment banks. Furthermore, the Gramm-Leach-Bliley Act allows banking institutions to provide a broader range of services, including underwriting and other dealing activities.
WE have seen the result of repealing the GSA. WE now have our own great Depression and a housing crash. They have also trashed the value of the US Dollar.
Fannie Mae and Freddie Mac are now the property of the U.S. Government. Many see this as good, I see it as one more step toward more Socialism. It also doubled our National Debit.
Why has our own Government done this to us ? I believe that the Socialist politicians,in our Government ,want us to ether crash or come close to bankruptcy so they can take over and change our form of Government to a purer form of Socialism.
The Republican party needs to remove any Socialist Liberals and globalist politicians from it’s Party. It needs to become the Conservative Republic Party once more.
It’s very simple we ether fight to keep our country free or we lose our personal freedoms and become the ward of The New America Socialist State.