June 6, 2019—Rep. Michael J. Skindell, a long-time Democratic representative from Ohio’s Cuyahoga County, has introduced a memorial resolution into the Ohio state legislature calling on Congress to pass a new Glass-Steagall law. The substance of House Concurrent Resolution 9 reads as follows: RESOLVED, That we, the members of the […]
By Nancy Spannaus March 30, 2019—The American Enterprise Institute (AEI) in Washington, D.C. hosted a discussion of the rise of today’s “supermarket banks” on March 27. Kicking off the event was Professor Mark H. Rose, who has recently published the book Market Rules: Bankers, Presidents, and the Origins of the […]
by Nancy Spannaus Nov. 1, 2018—It should be no surprise that at its Oct. 31 (Halloween) meeting, the Federal Reserve decided to loosen regulations not only for the banks with a $250 billion net worth, but also for those with assets up to the $700 billion level. This decision reflects […]
October 30, 2018—Tomorrow, according to an Oct. 29 report in the American Banker, the Federal Reserve Board of Governors is expected to take up the matter of implementing S. 2155, the major banking deregulation bill that was passed in the spring of this year. “Specifically, the Fed will unveil details […]
By Nancy Spannaus June 22, 2018—In a June 21 release, the Economic Advisory Committee of the American Bankers Association (ABA) declared that the U.S. economy was “fundamentally strong.” While making a nod toward possible disruptions from the ongoing trade conflict, the 16 economists from the major money-center banks who make […]
May 26, 2018—The pace of deregulation coming from the Trump Administration, and the U.S. Congress, is stunning. And it runs directly contrary to the principles of the Federally-backed credit system which Alexander Hamilton established, called the American System. Here are three prominent examples (many more are likely hidden in the […]
OECD Official at Davos Warns of New Global Crash Jan. 27, 2018—All was not happy talk at the confab of the financial elite in Davos, Switzerland this week. Speaking at the Davos World Economic Forum, economist William White, a veteran of the Bank for International Settlements, and currently head of […]
Nov. 29, 2017—“Are there any rules for the banking industry that should be made stronger?”, Senator Elizabeth Warren (D-Mass) pressed Federal Reserve Chairman nominee Jerome Powell, during his confirmation hearing at the Senate Banking Committee on Nov. 28. “There are no places that we’re lacking,” he said. He supported rewriting […]
by Angela Vullo March 27, 2020–Those of us who are baby boomers, might remember the famous sketch by Jack Benny from the 1960s. A mugger stops the comedian in the street and says, “Your money or your life”. After several seconds, when Benny does not respond, the mugger says, “Well?” […]
By Nancy Spannaus March 18, 2020—American journalist Andrew Spannaus updated his report on the fight against the coronavirus in Italy yesterday. His conclusion: The country is “on the brink” of seeing its hospital system overwhelmed. (His full report can be found on Consortium News) Given that Italy is a G-7 […]
Quarantine the Wall Street Banks, and the People!
Urgent Steps to Halt and Reverse the Onset of a New Dark Age By Angela Vullo March 13, 2020–Probably not since the onset of the 14th Century Dark Age has civilization been hit with the simultaneous spread of a killer disease along with the collapse of the global financial system. In […]