By Nancy Spannaus Oct. 13, 2019—If one is to take the actions of the Federal Reserve since Sept. 17 into account, the United States banking system (and perhaps the global one) has already entered into a new systemic crisis. The Fed is issuing tens of billions of dollars a day […]
April 10, 2019—The following press release was issued by Rep. Marcy Kaptur (D-Ohio) yesterday. It puts back on the Congressional agenda one of the urgent actions required to curb Wall Street speculation, and put the United States back on the path of the American System. The Bill number is HR […]
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 […]
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 […]
April 17, 2018—Minneapolis Federal Reserve Governor Neel Kashkari and Massachusetts Senator Elizabeth Warren were the lead speakers April 16 at a Howard University event on Too Big to Fail 10 Years after the Crash. Both stressed the fact that while Wall Street, bank managers, and the banks have come roaring […]
April 14, 2018–Former Vice-Chairman of the Federal Deposit Insurance Corporation (FDIC) Thomas Hoenig issued what might be his final public warning against disastrous risk in the deregulated banking system on April 2. On that day, the last of his term, Hoenig spoke with S&P Global Market Intelligence and sharply criticized the […]
April 2, 2018—Wall Street is racking up wins in Congress that are sure to increase the risk of the widely forecast next financial blowout. In addition to the passage of S. 2155 , which loosened capital and reporting requirements for 25 of the 38 largest banks in the United States, […]
March 25, 2018–Experienced officials of the Federal Deposit Insurance Corporation (FDIC) have made it clear once again: It’s the height of stupidity to further loosen banking regulations. Former FDIC Chairman Sheila Bair made her comments to Barron’s magazine on March 1, but they continue to garner coverage in the financial […]
New Bank Deregulation Bill Would Hasten New Financial Crash March 18, 2018—If you listen to the apologists for S. 2155, the bank deregulation bill that passed the U.S. Senate 67 to 31 on March 14, you will be told that this legislation is being passed as a boon to […]
Administration Slashing Crucial New York-New Jersey Gateway Project March 4, 2018—The final word has not yet been said, but the Trump Administration is giving every indication of disavowing any Federal funding for a major infrastructure project on which a huge portion of the nation’s economic functioning depends. That project is […]
On the occasion of the anniversary of his murder, July 11, 1804 By Nancy Spannaus July 11, 2020—The traditional ceremonies in New York City honoring Alexander Hamilton on the date of his murder by Aaron Burr on July 11, 1804 have necessarily been cancelled this year. We must honor […]
By Nancy Spannaus June 14, 2020—On March 31, Representative Danny Davis (D-Ill) introduced a new bill calling for the creation of a National Infrastructure Bank. H.R. 6422 is cosponsored by Rep. Seth Moulton (D-Mass); it has been referred to a several Congressional Committees for deliberation. The bill’s magnitude and import […]
