Run Spitzer, Run—Regulate the Banks and Wall Street Now

Not Too Big to Jail: Why Eliot Spitzer Is Wall Street’s Worst Nightmare

 by Ellen Brown

Before Eliot Spitzer’s infamous resignation as governor of New York in March 2008, he was one of our fiercest champions against Wall Street corruption, in a state that had some of the toughest legislation for controlling the banks. It may not be a coincidence that the revelation of his indiscretions with a high-priced call girl came less than a month after he published a bold editorial in the Washington Post titled “Predatory Lenders’ Partner in Crime: How the Bush Administration Stopped the States from Stepping in to Help Consumers.”  The editorial exposed the collusion between the Treasury, the Federal Reserve and Wall Street in deregulating the banks in the guise of regulating them, by taking regulatory power away from the states. It was an issue of the federal government versus the states, with the Feds representing the banks and the states representing consumers.

Five years later, Spitzer has set out to take some of that local regulatory power back, in his run for New York City comptroller.  Read more »

About eslkevin

I am a peace educator who has taken time to teach and work in countries such as the USA, Germany, Japan, Nicaragua, Mexico, the UAE, Kuwait, Oman over the past 4 decades.
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15 Responses to Run Spitzer, Run—Regulate the Banks and Wall Street Now

  1. eslkevin says:

    Public Banking TV: Want your trillions back? Better learn the basics
    Posted on June 23, 2013 by Carl Herman
    The 2013 Public Banking Conference has over 20 videos on YouTube with various experts explaining how at-cost public credit and monetary reform ends current economic emergencies:

    State budget deficits end as state-owned banks create at-cost credit. The US has only one state with increasing budget surpluses: the only one with a state-owned bank.
    State taxes are entirely paid with ~5% public mortgages and credit.
    Trillions in taxpayer surpluses are returned from documented government CAFRs (Comprehensive Annual Financial Report) as at-cost credit replaces rainy-day funds.
    Truth in banking opens debt-free money: US national debt is ended forever, and we have full employment for the best infrastructure we can imagine (documentation here, here, here).
    Truth in banking and money can open truth everywhere: unlawful US wars can end, poverty can end, with trillions of more dollars returned in the broader economy.
    The American public doesn’t have to know the details of banking anymore than they need to know the details of a sewer system. That said, Americans must know at least enough to demand public sanitation and public credit, or the consequences will be toxicity to all economic and social activity.

    Do you know enough about public banking and monetary reform to demand it? If you want to call yourself a responsible citizen deserving to live in a free society, this is one of the very few trillion-dollar issues you must factually command in its basics.

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