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 […]
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 […]
Alabama House Passes Bank Resolution June 4, 2019—This spring Alabama became the third state where a memorial resolution in favor of a National Infrastructure Bank has been passed. The resolution, introduced by Rep. Thomas Jackson, was voted up in the legislature in early April. The resolution also calls for reinstatement […]
A review by Nancy Spannaus Market Rules: Bankers, Presidents, and the Origins of the Great Recession Mark H. Rose University of Pennsylvania Press, Philadelphia, PA., 2019, 258 pp. April 17, 2019—Call me a populist if you will, but I cannot discuss the financial blowout of 2008 without holding responsible those […]
By Angela Vullo April 17, 2019–The U.S. Declaration of Independence states that Americans are committed to achieving “life, liberty, and the pursuit of happiness.” Somewhere along the line that commitment has been lost. As the horrific increase in deaths of despair dramatizes, a large segment of Americans today are, frankly, […]
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 […]
April 5, 2019—Rep. Thomas Jackson has introduced House Joint Resolution 60 to the Alabama House of Representatives, in pursuit of “urging Congress to support efforts to reinstate the separation of commercial and investment banking functions and to return to national banking policies.” The Resolution was sent to the Alabama State […]
April 2, 2019–The end-of-year reporting by the Wall Street mega-banks on their exposure to risk should be setting off alarms on Capitol Hill and beyond. Of particular concern are the figures on speculation in derivatives contained in the annual reports which the banks (among other publicly traded companies) have to […]
March 7, 2019—Rep. Shelly Willingham (D-Martin) introduced a “joint resolution urging Congress to enact without delay an “American Economic Recovery Program” into the North Carolina State Legislature on Feb. 17. House Joint Resolution 190 has five cosponsors and has been referred to the Banking Committee as the first step. The […]
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 […]
Lessons Still to Be Learned By Angela Vullo May 31, 2020–Those of us who never bought into the last 50-year economic shift into de-industrialization and financial speculation should not be shocked at the social unrest which has been unleashed in our country. The murder of George Floyd, a Minneapolis black […]
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 […]