O'Malley on Wall Street, Glass-Steagall, and the big banks

[FSogol]

We must put our national interest first, we must put America first.

But we cannot rebuild the American Dream here at home by catering to the voices of the privileged and the powerful.

Let's be honest. They were the ones who turned our economy upside-down in the first place. And they are the only ones who are benefiting from it.

We need to prosecute cheats, we need to reinstate Glass-Steagall, and if a bank is too big to fail without wrecking our nation's economy, then it needs to be broken up before it breaks us again.

Goldman Sachs is one of the biggest repeat-offending investment banks in America. Recently, the CEO of Goldman Sachs let his employees know that he'd be just fine with either Bush or Clinton.

I bet he would.

Well, I've got news for the bullies of Wall Street.

The presidency is not a crown to be passed back and forth by you between two royal families.

It is a sacred trust to be earned from the people of the United States, and exercised on behalf of the people of the United States.

The only way we are going to rebuild the American Dream is if we re-take control of our own American government!

[elleng]

1. Was/is excellent,

substantive and pointed.

Thanks, FSogol.


This just occurred to me: THIS will reaffirm that 'they' won't be helping him, surely won't be funding him, so we should do everything we can to assure that his voice is heard.

[Koinos]

2. You can be sure that Goldman Sachs will not be underwriting his campaign.

Or anyone else on Wall Street. I don't think he will be on the Koch Brothers' Christmas list either.

[Raine1967]

3. RE GS: I am more than fine with that.

And to be really honest, I think that some people on Wall Street might come calling because of this from his speech today: Climate change is real. We must create an American jobs agenda to build a new renewable energy future.

Renewables are the future and I believe there are people on Wall Street that are going to *bet* on it.

This is one example: http://www.earthcp.com

We are never going to get rid of wall street. What we need is to control it and entice responsible investors. I think this was a clarion cal to do so.

[Koinos]

4. You make an excellent point.

Not all wealthy persons are dead set on destroying the earth and turning the rest of us into serfs. Some do see the wisdom of investing in people and the environment.

[Raine1967]

5. Thanks Koinos. I don't know if I ever welcomed you to DU..

But I am glad you are here.

here is where I personally stand on the Banksters/Wall Street thing:

There is a terrible amount of corruption. We need to go after 'Wall St.' corruption.

We have to go after bad & dishonest trading and make it clear that investment is good with a well regulated capitalist system. WELL REGULATED*!

(you know, that* is in the bill of rights… )

[Koinos]

6. Thank you. Glad to be here. I joined because of O'Malley. I like him.

As to the banksters and Wall Street criminals, I totally agree with you. We also need an aggressive attorney general like Robert Kennedy, who was not afraid to go after organized crime. Wall Street criminals need to be prosecuted. We need strict regulations, but we also need enforcements that serve as deterrents. Forget about Jesse James. We have seen the greatest bank robberies in history. And it is the banks that were doing the robbing.