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Message: Fed Determines 10 Banks Need Capital of $74.6 Billion

Fed Determines 10 Banks Need Capital of $74.6 Billion

posted on May 07, 2009 04:36PM

Passing of the Gramm-Leach-Bliley Act by both Houses and signed into law in November of 1999 by Bill Clinton that repealed the Glass-Steagall Act is growing into a financial nightmare that just won't go away. Current members of the bank owned Congress have to be far worse than what the Creatures of Jekyll Island did to convince their predecessors to pass the Federal Reserve Act in 1913 that created a banking cartel that protected large banks and left the taxpayers susceptible to unregulated fraud that still continues to this day putting many in the "poor house."

As the brilliant Janet Tavakoli said on a recent C-Span interview that lawnbowler made available to us, "Let them go into receivership."

There were many people involved in the passing of the Gramm-Leach-Bliley in 1999. Some of them were: Phill Gramm Republican from Texas, Jim Leach Republican from Iowa, Thomas Bliley Republican from Virginia, Alan Greenspan, Larry Summers and Robert Rubin. Most pathetic that should be in this group is Bill Clinton who said he did the right thing. Ever see the movie Wag the Dog???

How can we ever stop the bankers from ripping us off when they own the Congress?

http://www.bloomberg.com/apps/news?p...

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