Podcasts about glass steagall act

The episode discusses an alleged legal plan to alter the US financial system, spearheaded by Trump's allies. It criticizes the current debt-centric system, highlighting a $37 trillion net negative position. The plan includes a return to gold-backed currency, reinstating the Glass-Steagall Act, promoting a national crypto strategy, and cracking down on private banking. Matt suggests that these moves, including strategic appointees and policy changes, aim to decentralize credit and empower real asset owners. Listeners are advised to invest in real assets, utilize seller financing, and follow innovative lending practices to navigate and benefit from this financial shift. BUT BEFORE THAT, Matt shares how 5 plane loads of iPhone just crashed the U.S. economy! About that thing we are doing in Vegas: https://docs.google.com/document/d/1WCsH9-05vQzgZf9MAGBpUahyTqBcu9VgVqQ8pcACMT8/edit?tab=t.0 Learn more about your ad choices. Visit megaphone.fm/adchoices

The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore a subject more fully. Are you looking for some hard-hitting insights on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly take a deep dive into the settlement of charges by the OCC with two former top audit executives at Wells Fargo for their oversight failures during the bank's fake accounts scandal. The Wells Fargo banking scandal is a cautionary tale of unchecked corporate misconduct and the critical role of auditor accountability. This scandal, which erupted due to Wells Fargo's creation of fake accounts driven by unrealistic sales targets, exposed the bank's dysfunctional corporate culture and raised questions about the efficacy of internal audits and the broader implications of regulatory actions. They discuss the scandal as emblematic of the broader issues stemming from repealing the Glass-Steagall Act, which blurs the lines between investment and consumer banking, fostering an environment where misconduct could thrive. Kelly points to the enormity of banks' post-Glass-Steagall repeal as a breeding ground for potential misconduct and highlights the negligence of Wells Fargo's leadership in failing to curb unethical practices. Both Fox and Kelly underscore the necessity for a comprehensive reevaluation of compliance and audit roles to prevent future scandals of this magnitude. Key highlights: Settlement of OCC Charges in Wells Fargo Impact of Regulatory Actions on Auditors Unethical Sales Goals Impacting Corporate Culture Glass Steagall Act Repeal: Wells Fargo Impact Resources: Matt in Radical Compliance Tom Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode features Zagros Madjd-Sadjadi, professor of economics at Winston-Salem State University. Dr. Madjd-Sadjadi has more than 30 years of teaching and economic consulting experience and was formerly the chief economist of the city and county of San Francisco. His work has been cited in the Congressional Record and led to the repeal of the Glass-Steagall Act. This past year, Dr. Madjd-Sadjadi served as the Lee Barnes Campus Debate Faculty Fellow for ACTA's College Debates and Discourse (CD&D) Alliance program at Winston-Salem State University. ACTA's Kayla Johnston, who serves as program manager for CD&D Alliance initiatives in North Carolina, also joins this conversation, exploring Dr. Madjd-Sadjadi's efforts to introduce civil debates and dialogues in his classroom and on campus.

Arthur Wilmarth argues that we must revive the wisdom of the New Deal era Glass-Steagall Act and again separate banks from the securities markets and commercial ventures. Federal bailouts of failing entities must be limited in the future to banks conducting a traditional banking business, rather than bailouts that extend broadly to protect securities activities and commercial ventures. Continuing overbroad bailouts will produce a “doom loop” that threatens the stability of our financial system and our economy.Professor Wilmarth's Powerpoint slides and a reading list are posted on DCConsumerrightscoalition.orgPlease note, the positions and opinions expressed by the speakers are strictly their own, and do not necessarily represent the views of their employers, nor those of the D.C. Bar, its Board of Governors or co-sponsoring Communities and organizations.

This Day in Legal History: Black TuesdayOn October 29, 1929, the United States experienced a significant legal and economic turning point with the stock market crash known as "Black Tuesday." This day marked the beginning of the Great Depression, a period of profound economic hardship that spurred vast changes in U.S. financial laws and regulations. The crash revealed serious flaws in the stock market, including speculative trading, inadequate banking oversight, and lack of investor protections, which led to widespread economic instability and massive unemployment. In response, the U.S. government, under President Franklin D. Roosevelt's administration, enacted substantial legislative reforms aimed at stabilizing the economy and preventing similar disasters in the future.Key legislation introduced during this period included the Securities Act of 1933 and the Securities Exchange Act of 1934, which established critical oversight mechanisms for the stock market. The 1933 Act mandated that companies provide transparent financial information before public stock offerings, while the 1934 Act created the Securities and Exchange Commission (SEC), tasked with regulating the securities industry to protect investors and maintain fair trading practices. Additional reforms under the New Deal included the Glass-Steagall Act, which separated commercial and investment banking to reduce conflicts of interest and curb risky practices in the banking sector.The legal changes initiated after Black Tuesday set foundational principles for U.S. financial regulation, significantly increasing the federal government's role in monitoring economic practices and protecting public interests. These reforms not only stabilized the U.S. economy but also introduced regulatory practices that continue to shape financial law and securities oversight to this day.The Republican National Committee and the Pennsylvania GOP have asked the U.S. Supreme Court to block a Pennsylvania court decision requiring the counting of provisional ballots for voters whose mail-in ballots were rejected due to errors. The state Supreme Court's ruling, made on October 23, supports two voters from Butler County who sought to count their provisional ballots after their mail-in votes were disqualified for lacking a secrecy envelope. The Republicans argue this decision undermines the legislature's authority to set election rules and comes too close to the November 5 presidential election, potentially influencing the results in the swing state. They have requested that, if the U.S. Supreme Court does not entirely suspend the ruling, it at least order these provisional ballots to be segregated, allowing further review post-election.This dispute highlights differences in ballot counting practices across Pennsylvania's counties, with most already counting provisional ballots in cases of rejected mail-ins, unlike Butler County. Republicans claim the state law disallows counting provisional ballots if a defective mail-in was received, while Democrats counter that voters with uncounted mail-in ballots should have their provisional ballots counted. The Pennsylvania Supreme Court sided with the Democrats, citing voter protections in the state constitution to prevent disenfranchisement.Republicans ask US Supreme Court to block Pennsylvania provisional ballots decisionCybersecurity firm CrowdStrike and Delta Air Lines are suing each other over a widespread IT outage on July 19 that disrupted multiple industries and led to significant flight cancellations. CrowdStrike filed a lawsuit in U.S. District Court in Georgia, claiming Delta wrongly blamed it for the outage and repeatedly rejected support from CrowdStrike and Microsoft. CrowdStrike seeks a declaratory judgment and coverage of legal fees. In a separate suit filed in Georgia's Fulton County Superior Court, Delta accused CrowdStrike of issuing an untested software update that caused 8.5 million Windows computers to crash globally, leading to 7,000 flight cancellations and an estimated $500 million in losses. Delta's lawsuit claims the faulty update severely impacted its operations and tarnished its reputation, and it seeks compensation for various damages including legal fees and future revenue loss.The July incident also spurred a U.S. Department of Transportation investigation. CrowdStrike countered that Delta's own technological response exacerbated delays, with both companies now contesting liability.CrowdStrike, Delta sue each other over flight disruptions | ReutersSince President Joe Biden took office, the U.S. Justice Department has initiated 12 civil rights investigations into police departments, focusing on "pattern or practice" probes of alleged systemic misconduct. Although Attorney General Merrick Garland quickly launched investigations into departments like Minneapolis and Louisville following high-profile police killings, none have reached binding reform settlements, known as consent decrees. The lack of final agreements has raised concerns, especially given the possibility of the Justice Department abandoning these cases if a Republican administration assumes office in 2025.The department has encountered obstacles, including political resistance and a slow, resource-intensive review process involving body-worn camera footage. Under former President Donald Trump, the Justice Department largely avoided using consent decrees, and though Garland has reversed this stance, progress remains slower compared to the Obama administration's efforts, which saw 17 investigations and multiple consent decrees in Obama's first term alone. Additionally, some cities, like Phoenix, openly oppose consent decrees, complicating negotiations. Experts highlight that current leadership may be less committed to aggressively pursuing these investigations than in past administrations. Meanwhile, the Justice Department faces challenges in balancing internal staffing shortages and external political pressures.Biden's Justice Dept has yet to reach accords in police misconduct casesIn my column for Bloomberg this week I lay out how green roofs, a near necessity for urban rainwater management, need to be incentivized. Green roofs have promising benefits for urban areas, including managing rainwater runoff, reducing cooling demands, and addressing urban heat. However, adoption rates are low, despite tax incentives. For instance, New York City's green roof tax credit, initiated over a decade ago, has seen minimal uptake due to insufficient financial rewards—only 14 properties have claimed credits since 2011. While some cities have tried enhancing these incentives, the results remain limited since property owners often find installation costs too high relative to the benefits.  A more impactful approach would be to introduce a tiered, time-sensitive incentive system, offering substantial early tax benefits that gradually decrease, followed by tax penalties for delays. For example, an initial tax credit of $20 per square foot in the first year could significantly reduce the installation cost, then drop annually, creating urgency. After the incentive period ends, penalties would begin, making it costly for owners to delay green roof installations. Such a model motivates property owners by balancing substantial early rewards with future penalties, ensuring that adoption increases over time without continuously high government expenditure. This combined incentive-penalty approach would likely make green roofs both a fiscally smart and environmentally beneficial option.  The general idea here is a proposed use of a “carrot-and-stick” tax policy in sequence, designed to balance fiscal encouragement with financial consequences. This approach may be a useful strategic legal framework to drive sustainable development.Developers Need Better Tax Incentives to Adopt Green Roofs This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe

Dans cet épisode, nous explorons l'affaire Jérôme Kerviel à travers les yeux de Bernard Pugnet, un ancien trader. Pugnet partage son parcours dans le monde du trading, les évolutions du marché, et les anomalies qu'il a observées avant la crise financière de 2008. Il aborde également l'impact de l'automatisation sur le trading et les signaux d'alerte qu'il a remarqués durant cette période tumultueuse. Nous abordons évidemment l'affaire Jérôme Kerviel, en analysant les ordres d'un trader mystérieux, la responsabilité de la banque, et l'impact de cette affaire sur le système bancaire. Nous abordons également le Glass-Steagall Act, le sauvetage des banques en 2008, et les réflexions sur le trading et la crypto-monnaie.

Dave Collum is a professor of organic chemistry at Cornell University and contributor at ZeroHedge. He joins Rudy Havenstein to discuss the damage from Hurricane Helene, lack of government response, being a “political atheist,” CPI, the Fed, Russia, Ukraine, Middle East, elections, The Glass-Steagall Act, Epstein, and much more. PLEASE SUBSCRIBE LIKE AND SHARE THIS PODCAST!!!   Video Version of Show Rumble- https://rumble.com/v5hv5kl-coffee-and-a-mike-dave-collum-and-rudy-havenstein-political-atheist.html   Follow Me Twitter/X- https://x.com/CoffeeandaMike Instagram- https://www.instagram.com/coffeeandamike/ Facebook- https://www.facebook.com/CoffeeandaMike/ Truth Social- https://truthsocial.com/@coffeeandamike Gettr- https://gettr.com/user/coffeeandamike Rumble- https://rumble.com/search/all?q=coffee%20and%20a%20mike Apple Podcasts- https://podcasts.apple.com/us/podcast/coffee-and-a-mike/id1436799008 Gab- https://gab.com/CoffeeandaMike Locals- https://coffeeandamike.locals.com/ Website- www.coffeeandamike.com Email- info@coffeeandamike.com   Support My Work Venmo- https://www.venmo.com/u/coffeeandamike Patreon- patreon.com/coffeeandamike Locals- https://coffeeandamike.locals.com/ Cash App- https://cash.app/$coffeeandamike Mail Check or Money Order- Coffee and a Mike LLC P.O. Box 25383 Scottsdale, AZ 85255-9998   Follow Dave X- https://twitter.com/DavidBCollum   Follow Rudy X- https://x.com/RudyHavenstein Substack- https://substack.com/@rudy   Sponsors Vaulted/Precious Metals- https://vaulted.blbvux.net/coffeeandamike Independence Ark Natural Farming- https://www.independenceark.com/

Today the Chicks are joined by the always insightful Zach Abraham from Bulwark Capital Management! They dive into Trump's bold plan to cap credit card interest rates and what it really means for YOUR wallet. Zach breaks it all down, from the possible ripple effects to the lessons we can learn from history (hint: remember the Glass-Steagall Act? )With inflation heating up and markets shifting, it's a conversation packed with financial wisdom you won't want to miss!

In this week's episode, Lizzie and Arden continue their New Deal series by examining the infamous Glass-Steagall Act! Join them as they discuss what led to needing the act, how it saved the country from financial ruin, and why repealing it was quite possibly the dumbest thing we could have done!  Follow us on Twitter and Instagram at @letsgetcivical, @lizzie_the_rock_stewart, and @ardenjulianna. Or visit us at letsgetcivical.com for all the exciting updates! Learn more about your ad choices. Visit megaphone.fm/adchoices

This episode explores the historical importance of the Glass-Steagall Act, which separated commercial and investment banking to restore stability after the Great Depression. The gradual deregulation that followed culminated in the 1999 Gramm-Leach-Bliley Act, eventually leading to the 2007-2008 financial crisis and prompting discussions on balancing innovation with stability in the financial sector.

How does legislation enacted in 1933 impact your life today?   Does that influence get bigger or smaller if you hear that legislation was repealed in 1999?   The truth is this one piece of regulation has dramatic repercussions on how you approach creating the financial future you want.   As they say, those who do not learn from history are doomed to repeat it. Are we repeating one of the biggest mistakes in American history?   The only thing we can say is what you think is the mistake probably isn't. Listen in to peak behind the curtain.   00:00 Introduction: The Impact of the 1929 Stock Market Crash 00:22 Alex's Story: A Personal Tale of Financial Turmoil 03:51 Understanding the Glass Steagall Act 06:56 The Lax Enforcement and Repeal of Glass Steagall 08:48 Personal Experience: Working in Finance 11:10 The Great Depression and the Glass Steagall Act 13:01 Modern Financial Speculation and Regulation 16:31 The Alternative Financial System   p.s. Due to more recent changes in banking regulation, the reserve requirements for banks are super low. Chances are your bank might have 0 reserves (source). How does that make you feel?   Links mentioned in the episode: Grab your very own copy of Five Smooth Stones here: https://www.wealthwisdomfp.com/shop (physical and digital versions available) Schedule a Discovery Call with us here: https://www.wealthwisdomfp.com/call   Watch this episode on YouTube here: https://youtu.be/IyaKng6nHTI 

Like rats jumping off a sinking ship, everyone is heading for the exits on the dollar as consumers and institutions join central banks, sending Bitcoin, Gold, Silver to new heights as 500 bank failures loom in the near future according to a Fed Reserve member and commercial real estate CEOTony Arterburn, DavidKnight.gold, on why it's not going to stop but accelerateMoney is only what YOU hold: Go to DavidKnight.gold for great deals on physical gold/silverFind out more about the show and where you can watch it at TheDavidKnightShow.comIf you would like to support the show and our family please consider subscribing monthly here: SubscribeStar https://www.subscribestar.com/the-david-knight-showOr you can send a donation throughMail: David Knight POB 994 Kodak, TN 37764Zelle: @DavidKnightShow@protonmail.comCash App at: $davidknightshowBTC to: bc1qkuec29hkuye4xse9unh7nptvu3y9qmv24vanh7For 10% off Gerald Celente's prescient Trends Journal, go to TrendsJournal.com and enter the code KNIGHTWitness the banking sector's precarious dance on the edge of a knife with Tony Arterburn and me as your guides. This episode peels back the layers of a brewing storm in finance, where the fall of smaller banks could herald an era of consolidation under the might of banking titans. We trace the lineage of financial crises, from the Glass-Steagall Act's dismantling to today's digital currency frontiers, and foresee how these events might fortify the bastions of centralized banking power.The tremors of a global currency reevaluation thunder through our discussion, with the U.S. dollar's dominance hanging in the balance. Feel the pulse of the markets with us, as investors cling to Bitcoin and precious metals, akin to lifeboats in a sea of dwindling dollar value. We scrutinize the chess moves of central banks, the twilight of essential support programs, and the burgeoning drive towards financial alternatives that could redraw the economic map.In the realm of cryptocurrency, we lock horns with the specter of government control, pondering its role in an increasingly scrutinized financial landscape. From the FTX scandal's fallout to Silvergate Bank's collapse, we question the motives behind these industry shake-ups and whether they're a precursor to the era of CBDCs. Indulge in a bit of satire with me as we toast to free speech and logic, echoing the provocations of the DavidNight show, and rally to think critically amidst the evolving tides of our financial systems.

When FDR came into the presidency he promised to act swiftly in order to help the nation face the dark realities of the moment. FDR wasted no time in implementing his plan for economic recovery, which would come to be known as the New Deal. When we talk of the New Deal we often link it to the 3 Rs ( Relief, Reform & Recovery).  He implemented various programs, such as the Civilian Conservation Corps and the Federal Emergency Relief Administration, which aimed to create jobs and provide financial assistance to those struggling the most. One of the most significant pieces of legislation passed during this time was the Glass-Steagall Act, which separated commercial and investment banking and aimed to prevent another stock market crash. Today we are joined by Neil Maher, a history professor at NJIT and author. He's written multiple books but his book, Nature's New Deal: The Civilian Conservation Corps and the Roots of the American Environmental Movement is the focus of our discussion today.  Some of the other programs we discuss include: Works Progress Administration (WPA) Securities and Exchange Commission (SEC) The FDIC The Social Security Administration (SSA) Tennessee Valley Authority (TVA) National Industrial Recovery Act (NIRA) Public Works Administration (PWA) The Agricultural Adjustment Act (AAA)   That is a lot of letters and acronyms that Jeananne will get into!   Always more to learn...see you on the other side.   Jimmy & Jean  

Morgan Stanley's Origins and Glass-Steagall Act [00:00:00]Merger with Dean Witter and Diversification [00:02:27]Financials and Business Segments of Morgan Stanley [00:04:51]Debt Issuance and Payments [00:10:35]Increasing Cash Dividends [00:11:45]Stock Performance and Valuation [00:12:49]

On this episode of Top Hat! Social Conservatism on the rise in the US, a surprise Supreme Court ruling accommodates black voters in Alabama with representation (while 12.38 million black and latino voters are missing or erased from national databases), MTG "does not recall" the Glass-Steagall Act, Boebert sued for libel, Donald Trump going down (again!) and taking his valet with him, and MORE!

On this day in legal history the Securities and Exchange Commission was established.During the 1920s, the United States experienced a period of economic growth known as the "Roaring 20s," characterized by prosperity, consumerism, and increased debt. Many people invested in the stock market, taking huge risks without federal oversight. However, on October 29, 1929, known as "Black Tuesday," the stock market crashed, causing widespread losses and a loss of public confidence. This crash led to the closure of thousands of banks, bankruptcies, high unemployment rates, wage cuts, and homelessness, ultimately triggering the Great Depression.In response to the stock market crash and to prevent future crises, the U.S. Senate Banking Committee conducted hearings in 1932, known as the Pecora hearings. These hearings revealed widespread misconduct in the financial industry, including misleading investors, irresponsible behavior, and insider trading. As a result, the Securities Act of 1933 was passed, requiring registration of most securities sales and aiming to prevent fraud by ensuring investors received truthful financial information.The Glass-Steagall Act, also a response to the Pecora hearings, was passed in 1933. It separated investment banking from commercial banking and established the Federal Deposit Insurance Corporation (FDIC) to oversee banks, protect consumers' deposits, and handle consumer complaints.To further regulate the securities industry, President Franklin D. Roosevelt signed the Securities Exchange Act in 1934, on this day in fact, creating the Securities and Exchange Commission (SEC). The SEC was granted extensive powers to regulate the securities industry, including the New York Stock Exchange, and had the authority to bring civil charges against violators of securities laws. Joseph P. Kennedy, a Wall Street investor and businessman, was appointed as the first chairman of the SEC by President Roosevelt.It is also obviously the anniversary of the Normandy landings – while not explicitly a day in legal history, it is safe to say the second half of the 20th century in American jurisprudence might have transpired differently had the invasion gone differently. The SEC is busy on its birthday. Today, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase Inc, the largest cryptocurrency asset trading platform in the United States. The SEC accused Coinbase of operating illegally without registering with the regulatory agency. According to the complaint, Coinbase has been functioning as an unregistered broker since at least 2019, conducting cryptocurrency transactions and evading disclosure requirements designed to protect investors. The SEC further stated that Coinbase Prime, a service that directs orders to Coinbase's platform and other platforms, as well as Coinbase Wallet, which enables investors to access liquidity outside of Coinbase's platform, also operated as unregistered brokers. Gary Gensler, the Chair of the SEC, expressed via Twitter that Coinbase's alleged failures deprived investors of crucial protections against fraud, manipulation, conflicts of interest, and routine inspection.Coinbase's stock experienced a 15.9% decline in premarket trading following the filing of the lawsuit, and the company did not immediately respond to requests for comment. This SEC lawsuit against Coinbase came just one day after the regulator had filed a separate lawsuit against Binance, the world's largest cryptocurrency exchange, and its founder, Changpeng Zhao. The lawsuit against Coinbase was submitted in Manhattan federal court. This development adds to the regulatory scrutiny faced by major cryptocurrency platforms, highlighting concerns over compliance and investor protection.By way of additional background on the aforementioned Binance suit, the SEC alleges that Binance and Zhao engaged in deceptive practices, conflicts of interest, lack of disclosure, and evasion of the law. They are accused of secretly allowing high-value U.S. customers to trade on the Binance.com platform while publicly claiming to restrict them. Additionally, the SEC claims that Binance.US, which was presented as an independent platform for U.S. investors, was actually controlled by Zhao and Binance behind the scenes.The SEC also alleges that Zhao and Binance had control over customer assets, permitting commingling and diversion of funds, including to an entity owned by Zhao called Sigma Chain. Furthermore, the SEC asserts that Binance and BAM Trading operated as unregistered national securities exchanges, broker-dealers, and clearing agencies. They are charged with offering and selling their own crypto assets, including BNB and BUSD, without proper registration. Zhao is held responsible as a control person for these violations.SEC Chair Gary Gensler emphasized the extensive deception and evasion of regulations by Zhao and Binance. He cautioned the public against investing with or on these unlawful platforms. The complaint filed by the SEC seeks accountability for the alleged violations of securities laws and investor protection.US SEC sues Coinbase, one day after suing Binance | ReutersSEC Files 13 Charges Against Binance Entities and Founder Changpeng ZhaoTwo former partners of Lewis Brisbois were forced out of the boutique they had started after their former firm released a collection of racist, sexist, and antisemitic emails they had written while employed there. You will remember we previously reported on their spin-off firm, when they were able to convince more than a hundred Lewis Brisbois attorneys to follow them. The remaining leaders of the spin-off boutique, which was formed by John Barber and Jeff Ranen, will establish a new firm. The partners' former firm, Lewis Brisbois, shared a series of emails spanning more than a decade that revealed disparaging remarks made by Barber and Ranen about female associates, clients, and others, as well as their use of racist, antisemitic, and anti-LGBTQ slurs. Following the release of the emails, Barber and Ranen resigned from Barber Ranen, expressing their remorse and apologizing for their words.The exposure of these emails could negatively impact recruitment efforts for both Lewis Brisbois and the new boutique. It may also result in client losses for the firms. The incident has drawn attention to the need for a more inclusive and respectful culture in the legal profession. The former partners have stated that they will take time away from the legal business to reflect on their actions and explore ways to demonstrate their contrition and commitment to a more inclusive world. The release of these emails has prompted discussions about the need for ethical training and quality control in the legal profession.Ex-Lewis Brisbois Partners Ousted Over Racist, Sexist Emails (1)Texas has emerged victorious in its antitrust lawsuit against Google as a U.S. judicial panel has ordered the case to be returned to federal court in Texas. Initially, Google had succeeded in moving the lawsuit to a federal court in New York upon its request, where other advertising technology cases were being heard. However, Texas sought to have the case moved back after the U.S. Congress passed the Venue Act in 2022, granting state attorneys general the right to choose the jurisdiction for litigating antitrust lawsuits. The Texas lawsuit accuses Google of violating the law by exerting control over the process used by advertisers to place online ads, resulting in reduced revenues for website publishers. Google has expressed its disagreement with the decision, asserting that the Texas Attorney General's case is flawed in terms of both facts and law. The case will now be heard in the eastern district of Texas, known for its efficiency in handling cases. Google is facing antitrust lawsuits globally, with allegations of abuse of dominance in various areas of its businesses. Apart from the Texas lawsuit, Google is also battling the U.S. federal government in two separate antitrust lawsuits related to search dominance and advertising technology, while states led by Utah have accused the company of violating antitrust laws in its management of the app store.Texas wins round against Google as antitrust lawsuit returned to Lone Star state | ReutersHey, looky here – its Column Tuesday again!This week I wrote about the Texas tax on electric vehicles and its overall wrongheadedness. I tried to give credit where credit was due, Texas has it partially right—the state is just taxing the wrong thing, at the wrong time, with the wrong rate, and for the wrong reasons. Other than that, the EV tax is a great idea.About that tax: starting from September, Texas will impose a $400 initial registration fee and a $200 annual renewal fee for EV owners. The rationale behind the fee is to offset the portion of the gas tax that goes towards infrastructure and road maintenance, which EVs do not contribute to. However, I argue that the bill is more about protecting the oil and gas industry and winning a culture war than about effective policy. The bill excludes hybrid vehicles and other small electric vehicles from the tax, leading to logical inconsistencies.An alternative approach I suggest is to implement a tax based on the kilowatt hours used at public chargers. This would more accurately reflect the use of infrastructure by EVs and could fund public charging infrastructure. The tax could also be adjusted based on income to address regressiveness. However, if the goal of the tax is to offset wear and tear on roads and bridges, hybrid vehicles, which have higher fuel efficiency than traditional gasoline-powered cars, should also be subject to such a tax.The new EV tax in Texas results in EV drivers paying more for road maintenance compared to gas-powered car drivers.While there may be a need for a tax on EVs in the future when they become more prevalent, it should be implemented with careful consideration and for the right reasons. The current EV tax in Texas is misguided and poorly designed.Texas' New EV Tax Should Fix the Bridges, Not ‘Own the Libs' Get full access to Minimum Competence - Daily Legal News Podcast at www.minimumcomp.com/subscribe

Un terremoto sta scuotendo il settore bancario da una parte all'altra dell'Atlantico. In meno di una settimana è caduta la Silicon Valley Bank e trema Credit Suisse. Sui mass media si aggira lo spettro della grande crisi del 2008. Per capire cosa sta succedendo bisogna riavvolgere il nastro: tornare al 1999, quando – con l'abrogazione del Glass-Steagall Act – il presidente Clinton consentì la fusione tra banche commerciali e banche d'investimento lasciando libera la mano dei mercati finanziari. Una tendenza confermata durante l'amministrazione Trump che ha allentato la vigilanza sulle banche con attivi inferiori ai 250 miliardi di dollari. L'attuale crisi ha origini profonde, ma può essere l'occasione per un cambiamento di paradigma. Learn more about your ad choices. Visit megaphone.fm/adchoices

Tom welcomes Robert Moriarty back to the program to discuss the latest in interesting times in finance. Bob explains where the money is really coming from to bail out the recent failures in the banking system, noting that the $200 billion figure has ballooned to $2 trillion. The Federal Reserve has effectively committed to printing $2 trillion in a week, which is unprecedented. Bob believes that the system can't be repaid mathematically, so something is bound to blow up, leading to inflation and deflation in response to the new debt. He also covers the history of banking in the United States and the purpose of the Glass-Steagall Act, as well as the impact of geopolitical risk. Bob expresses his dismay about the quality of the leadership in the US and his concern about the potential for increased conflict. He concludes that there is no real limit to how much money can be spent on bailouts, and that sanctions and conflict risks seem to be increasing, without helping the situation. Time Stamp References:0:00 - Introduction0:55 - All Debts Get Paid4:28 - Causes & Bond Markets8:23 - Flationary Effects?15:17 - Saudis & Ukraine18:05 - Sanctions & Seizures21:00 - Alt. Competing Systems23:30 - New Standards25:44 - FDIC Bailout-ing27:42 - Cash & Real Assets29:42 - Shares & Margin31:42 - Geopolitics & Conflict37:07 - Collum Year-In-Review41:21 - Gold Price & Miners43:53 - Scary Times46:30 - Wrap Up Talking Points From This Episode Why the existing monetary system is destined for complete failure.The expansion of the BRICS+ countries and heightening geopolitical tensions.What possible actions will the Fed undertake to "fix things" in this environment. Guest Links:Website: http://www.321gold.comBooks on Amazon: https://www.amazon.com/Robert-Moriarty/e/B01A9I4TJU?ref=sr_ntt_srch_lnk_3&qid=1599932580&sr=8-3 Bob Moriarty founded 321gold.com with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind, and nuclear energy. Both sites feature articles, editorial opinions, pricing figures, and updates on both sectors' current events. Previously, Moriarty was a Marine F-4B and O-1 pilot, with more than 832 missions in Vietnam. He holds fourteen international aviation records.

In this episode of TishTalk, I return to a previous conversation with financial commentator David Ward. We review recent banking history starting with the creation of the Federal Reserve System. We discuss the relevance of the Glass Steagall Act in 1933 and the creations of 4 Pillars to protect individuals from speculators and why it was ended. . David reviews Bretton Woods, the gold standard and how Nixon created the petro dollar in response to the OPEC oil crisis. David goes over how inflation has continued to rise, discusses the derivative fueled sub-prime mortgage collapse in 2007/2008 and speculate whether a bail-in scenario is possible with our current looming banking crisis. (for those who want to fact check a bail-in, please watch Chairman Martin Gruenberg of FDIC discuss it in a meeting https://www.youtube.com/watch?v=gjN2l4PtcG0 . Finally, we discuss whether NESARA is real, why we must stop CDBCs and review critical banking reforms needed for our future and the importance of working to be money sovereign and debt lean in times ahead.

Join the Hoover Book Club for engaging discussions with leading authors on the hottest policy issues of the day. Hoover scholars explore the latest books that delve into some of the most vexing policy issues facing the United States and the world. Find out what makes these authors tick and how they think we should approach our most difficult challenges. In our latest installment, we will feature a discussion between former Senator Phil Gramm, John Early and John B. Taylor the George P. Shultz Senior Fellow in Economics at the Hoover Institution on Senator Gramm's and Mr. Early's latest book The Myth of American Inequality: How Government Biases Policy Debate co-authored by Robert Ekelund.  ABOUT THE AUTHORS Senator Phil Gramm is an economist by training and has had a long and distinguished career in public service, academia and the private sector. Senator Gramm was the vice chairman of UBS Investment Bank, where he provided strategic economic, political and policy advice to important corporate and institutional clients. He served in the US Congress representing Texas for more than two decades, first as the 6th congressional district representative to the US House of Representatives, then later as senator. His legislative record includes landmark bills like the Gramm-Latta Budget – which reduced federal spending, rebuilt national defense and mandated the Reagan tax cut – and the Gramm-Rudman Act, which placed the first binding constraints on federal spending. As chairman of the Senate Banking Committee, Sen. Gramm steered legislation modernizing banking, insurance and securities laws. The Gramm-Leach-Bliley Act amended the 70-year-old Glass-Steagall Act,  allowing banks, security companies and insurance companies to affiliate through a financial services holding company.  Sen. Gramm taught economics at Texas A&M University for 12 years before becoming a member of Congress. He has published numerous articles and books on subjects ranging from private property, monetary theory and policy to the economics of mineral extraction. As a visiting scholar at AEI, he will be working on a comprehensive plan to fix the US economy through reform of the tax code and entitlement programs such as Social Security and Medicare. John F. Early is a mathematical economist, president of the consultancy Vital Few, LLC, and an adjunct scholar at the Cato Institute. Early has also served twice as assistant commissioner at the Bureau of Labor Statistics where he directed the statistical design, economic analysis, and survey operations for the Consumer Price Index (CPI), the Consumer Expenditure Survey (CES), Point of Purchase Survey (POPS), and estimates of pre‐retail price changes. ABOUT THE BOOK Everything you know about income inequality, poverty, and other measures of economic well-being in America is wrong. In this provocative book, a former United States senator, eminent economist, and a former senior leader at the Bureau of Labor Statistics challenge the prevailing consensus that income inequality is a growing threat to American society. By taking readers on a deep dive into the way government measures economic well-being, they demonstrate that our official statistics dramatically overstate inequality. Getting the facts straight reveals that the key measures of well-being are greater than the official statistics of the country would lead us to believe. Income inequality is lower today than at any time in post- World War II America. The facts reveal a very different and better America than the one that is currently described by policy advocates across much of the political spectrum. The Myth of American Inequality provides clear and convincing evidence that the American Dream is alive and well. 

Last Sunday night, as cryptocurrency prices plummeted, Celsius Network — an experimental cryptocurrency bank with more than one million customers that has emerged as a leader in the murky world of decentralized finance, or DeFi — announced it was freezing withdrawals “due to extreme market conditions.”Earlier this week, Bitcoin dropped 15 percent over 24 hours to its lowest value since December 2020, and Ether, the second-most valuable cryptocurrency, fell about 16 percent. Last month, TerraUSD, a stablecoin — a system that was supposed to perform a lot like a conventional bank account but was backed only by a cryptocurrency called Luna — collapsed, losing 97 percent of its value in just 24 hours, apparently destroying some investors' life savings. The implosion helped trigger a crypto meltdown that erased $300 billion in value across the market. These crypto crashes have fueled worries that the complex and murky crypto banking and lending projects known as DeFi are on the brink of ruin.Eighty nine years ago today the Banking Act of 1933 — also known as the Glass-Steagall Act — was signed into law by Franklin D. Roosevelt. It separated commercial banking from investment banking — Main Street from Wall Street — in order to protect people who entrusted their savings to commercial banks from having their money gambled away. Glass-Steagall's larger purpose was to put an end to the giant Ponzi scheme that had overtaken the American economy in the 1920s and led to the Great Crash of 1929. Americans had been getting rich by speculating on shares of stock and various sorts of exotica (roughly analogous to crypto) as other investors followed them into these risky assets — pushing their values ever upwards. But at some point Ponzi schemes topple of their own weight. When the toppling occurred in 1929, it plunged the nation and the world into a Great Depression. The Glass-Steagall Act was a means of restoring stability.It takes a full generation to forget a financial trauma and allow forces that caused it to repeat their havoc. By the mid-1980s, as the stock market soared, speculators noticed they could make lots more money if they could gamble with other people's money, as speculators did in the 1920s. They pushed Congress to deregulate Wall Street, arguing that the United States financial sector would otherwise lose its competitive standing relative to other financial centers around the world. In 1999, after Sandy Weill's Travelers Insurance Company merged with with Citicorp, and Weill personally lobbied Clinton (and Clinton's Treasury secretary Robert Rubin), Clinton and Congress agreed to ditch what remained of Glass-Steagall. Supporters hailed the move as a long-overdue demise of a Depression-era relic. Critics (including yours truly) predicted it would release a monster. The critics were proven correct. With Glass-Steagall's repeal, the American economy once again became a betting parlor. (Not incidentally, shortly after Glass-Steagall was repealed, Sandy Weill recruited Robert Rubin to be chair of Citigroup's executive committee and, briefly, chair of its board of directors.) Inevitably, Wall Street suffered another near-death experience from excessive gambling. Its Ponzi schemes began toppling in 2008, just as they had in 1929. The difference was that the U.S. government bailed out the biggest banks and financial institutions, with the result that the Great Recession of 2008-09 wasn't nearly as bad as the Great Depression of the 1930s. Still, millions of Americans lost their jobs, their savings, and their homes (and not a single banking executive went to jail). In the wake of the 2008 financial crisis, a new but watered-down version of Glass-Steagall was enacted — the Dodd-Frank Act — which has been further diluted and defanged by Wall Street lobbyists.Which brings us — 89 years to the day after Glass-Steagall was enacted — to the crypto crash. The current chair of the Securities and Exchange Commission, Gary Gensler, has described cryptocurrency investments as “rife with fraud, scams, and abuse.” Yet in the murky world of crypto DeFi, it's hard to understand who provides money for loans, where the money flows, or how easy it is to trigger currency meltdowns. There are no standards for issues of custody, risk management, or capital reserves. There are no transparency requirements. Investors often don't know how their money is being handled or who the counter-parties are. Deposits are not insured. We're back to the Wild West finances of the 1920s. In the past, cryptocurrencies kept rising by attracting an ever-growing range of investors and some big Wall Street money, along with celebrity endorsements. But, as I said, all Ponzi schemes topple eventually. And it looks like crypto is now toppling. So why isn't this market regulated? Mainly because of intensive lobbying by the crypto industry, whose kingpins want the Ponzi scheme to continue. The industry is pouring huge money into political campaigns. And it has hired scores of former government officials and regulators to lobby on its behalf — including three former chairs of the Securities and Exchange Commission, three former chairs of the Commodity Futures Trading Commission, three former U.S. senators, and at least one former White House chief of staff, the former chair of the Federal Deposit Insurance Corporation, and more than 200 former staffers of federal agencies, congressional offices and national political campaigns who have worked in crypto. Former Treasury Secretary Lawrence Summers advises crypto investment firm Digital Currency Group Inc. and sits on the board of Block Inc., a financial-technology firm that is investing in cryptocurrency-payments systems.In a famous passage from his 1955 book The Great Crash 1929, my mentor, Harvard professor John Kenneth Galbraith, introduced the term “bezzle” (derived from embezzlement). Galbraith observed that the bezzle in a financial system grows whenever people are confident about the economy, and reveals itself when confidence ebbs: At any given time there exists an inventory of undiscovered embezzlement which … varies in size with the business cycle. In good times, people are relaxed, trusting, and money is plentiful. But even though money is plentiful, there are always many people who need more. Under these circumstances, the rate of embezzlement grows, the rate of discovery falls off, and the bezzle increases rapidly. In depression, all this is reversed. Money is watched with a narrow, suspicious eye. The man who handles it is assumed to be dishonest until he proves himself otherwise. Audits are penetrating and meticulous. Commercial morality is enormously improved. The bezzle shrinks.Crypto is pure bezzle — as is now being revealed. If we should have learned anything from the crashes of 1929 and 2008, it's that regulation of financial markets is essential. Otherwise they turn into Ponzi schemes filled with bezzle — leaving small investors with nothing and endangering the entire economy. It's time for the Biden administration and Congress to stop the crypto bezzle. What do you think? This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit robertreich.substack.com/subscribe

On this edition of Parallax Views, Ari Rabin-Havt, deputy campaign manager for Bernie Sanders's 2020 presidential campaign, joins me for a brief 20 minute about his new campaign memoir The Fighting Soul: On the Road With Bernie Sanders. Rabin-Havt provides not only a behind-the-scenes look at the Sanders campaign but also a rare glimpse into the passionate Vermont Senator himself that gets beyond what one saw from him in televised appearances, town halls, and Presidential debates. Most of this conversation focuses on how Bernie developed a greater confidence in his foreign policy views and detailing his fight to pass the Yemen War Powers Act/Resolution alongside seemingly unlikely allies Sen. Rand Paul (R-KY) and Sen. Mike Lee (R-UT). We also discuss Bernie's 2018 lunch with then Iranian foreign minister Javad Zaraf, an anecdote about Bernie Sanders and America's most prominent Israel lobby AIPAC (American Israel Public Affairs Committee), Bernie's love of mo-town, an exchange between Barack Obama and Bernie that illustrates Bernie's principles, and an amusing story involving Hannah Montana star Miley Cyrus. Be sure to pick of The Fighting Soul: On the Road With Bernie Sanders as this only covers a small slice of a book that is a fast-paced, rollicking read throughout. In the second segment of the show, former Senior Federal Reserve official Thomas M. Hoenig joins me to discuss the aftermath of the global financial crisis and his opposition to Quantitative Easing, "Too Big To Fail Banks", and support for a new, modernized Glass-Steagall Act to break up mega-banks. As listeners of Parallax Views may recall, Hoenig was recently featured as the main protagonist of recent guest Christopher Leonard's The Lords of Easy Money: How the Federal Broke the American Economy. In the second segment of the show, former Senior Federal Reserve official Thomas M. Hoenig joins me to discuss the aftermath of the global financial crisis and his opposition to Quantitative Easing, "Too Big To Fail Banks", and support for a new, modernized Glass-Steagall Act to break up mega-banks. As listeners of Parallax Views may recall, Hoenig was recently featured as the main protagonist of recent guest Christopher Leonard's The Lords of Easy Money: How the Federal Broke the American Economy. In Leonard's book, which covers the Federal Reserve's policies in the years following the 2008 financial crisis, Hoenig is the president of the Federal Reserve Bank of Kansas City who consistently (and in opposition to other Federal Reserve officials) votes "No" on proposed policies. Although painted as being merely an "anti-inflation hawk", Leonard says this is a misrepresentation and that Hoenig saw how Quantitative Easing was hurting rather than helping the ordinary citizens of Main Street America. In this conversation, Hoenig explains exactly how he saw policies like Quantitative Easing and the belief in "Too Big To Fail Banks" as having negative consequences for ordinary America. Hoenig is unfiltered in the course of our discussion and expresses his pro-market views, small "c" conservative views while also noting the ways in which some of his views have overlapped with liberal and left-wing figures like Bernie Sanders and Sherrod Brown. This conversation doesn't get into a debate about politics, but rather allows Hoenig to express his views. All in all it is hope by Parallax Views that this is seen as a fascinating discussion with a former major figure from the Federal Reserve who now serves as a Distinguished Fellow for the Mercatus Center.

The Glass-Steagall banking bill was one of the most important progressive reforms of the 20th Century. It's gone now, but as often happens with members of Congress, Glass and Steagall have been almost entirely forgotten. Glass's story offers some very interesting insights into how the ideological range of American politics has narrowed. Because Glass and Steagall, the Great Reformers, were actually interested in preventing reform. I value your support on Patreon.

Art Wilmarth is Professor Emeritus at The George Washington University Law School. In this episode, Art discusses his new paper, “It's Time to Regulate Stablecoins as Deposits and Require Their Issuers to Be FDIC-Insured Banks.” Specifically, Art explains why he believes that stablecoin issuers and distributors should be required to become FDIC-insured banks and the other steps he would like to see financial regulators take in the interim, including having the SEC use its existing authority to regulate stablecoins as “securities” and having the Department of Justice designate stablecoins as “deposits” and bring enforcement actions to prevent issuers and distributors of stablecoins from unlawfully receiving “deposits” in violation of Section 21(a) of the Glass-Steagall Act.   Related Links:   Art's profile: Arthur E. Wilmarth, Jr. | GW Law | The George Washington University (gwu.edu)   It's Time to Regulate Stablecoins as Deposits and Require Their Issuers to Be FDIC-Insured Banks: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4000795   President's Working Group on Financial Markets Report on Stablecoins: https://home.treasury.gov/news/press-releases/jy0454

Wall Street may be having a bad week, but top bankers are doing wonderfully well. After a blockbuster year, the five biggest Wall Street banks just paid out $142 billion in bonuses and compensation for 2021. This was $18 billion more than in 2020. JPMorgan Chase reported record profits, and Citigroup's annual profit more than doubled. Let me remind you (as if you need reminding) that 2020 and 2021 were not exactly blockbuster years for the rest of America. In the first three decades after World War II, American companies made money by making things, selling them at a profit, and investing the profits in additional productive capacity. This helped create the largest middle class the world had ever seen. In those years, the financial sector accounted for 15 percent of U.S. corporate profits.Then something happened. By the mid-1980s, the financial sector claimed 30 percent of corporate profits. By 2001, 40 percent — more than four times the profits made in all U.S. manufacturing. Why this dramatic change? Indulge me a moment as I quote from a New York Times op-ed I wrote more than forty years ago (May 23, 1980):The paper entrepreneurs are winning out over the product entrepreneurs.Paper entrepreneurs – trained in law, finance, accountancy – manipulate complex systems of rules and numbers. They innovate by using the systems in novel ways: establishing joint ventures, consortiums, holding companies, mutual funds; finding companies to acquire, “white knights” to be acquired by, commodity futures to invest in, tax shelters to hide in; engaging in proxy fights, tender offers, antitrust suits, stock splits, spinoffs, divestitures; buying and selling notes, bonds, convertible debentures, sinking-fund debentures; obtaining government subsidies, loan guarantees, tax breaks, contracts, licenses, quotas, price supports, bailouts; going private, going public, going bankrupt.Product entrepreneurs – engineers, inventors, production managers, marketers, owners of small businesses – produce goods and services people want. They innovate by creating better products at less cost.Our economic system needs both. Paper entrepreneurs ensure that capital is allocated efficiently among product entrepreneurs. But paper entrepreneurs do not directly enlarge the economic pie. They only arrange and divide the slices. They provide nothing of tangible use. For an economy to maintain its health, entrepreneurial rewards should flow primarily to product, not paper.Yet paper entrepreneurialism is on the rise. It dominates the leadership of our largest corporations. It guides government departments, legislatures, agencies, public utilities. It stimulates platoons of lawyers and financiers.It preoccupies some of our best minds, attracts some of our most talented graduates, embodies some of our most creative and original thinking, spurs some of our most energetic wheeling and dealing. Paper entrepreneurialism also promises the best financial rewards, the highest social status.The ratio of paper entrepreneurialism to product entrepreneurialism in our economy – measured by total earnings flowing to each, or by the amount of news in business journals and newspapers typically devoted to each – is about 2 to 1.Why? Our economic system has become so complex and interdependent that capital must be allocated according to symbols of productivity rather than according to productivity itself. These symbolic rules and numbers lend themselves to profitable manipulation far more readily than do the underlying processes of production.It takes time and effort to improve product quality, exploit manufacturing efficiencies, develop distribution and sales networks. But through strategic use of accounting conventions, tax rules, stock and commodity exchanges, exchange rates, government largesse, and litigation, enormous profits are possible with relatively little effort.When paper entrepreneurs look for solutions to America's declining productivity and international competitiveness, they come up with paper remedies to stimulate large-scale capital investment: accelerated depreciation, tax credits, government subsidies, relaxation of antitrust laws. Product entrepreneurs focus on techniques for improving output: better quality controls, improved labor-management relations, more effective incentives for managers and employees, more aggressive marketing and sales.If we are to increase the economic pie, we will need to redress the balance of entrepreneurial effort. Which strategies will stimulate more paper, and which more product?  I wish I had not been as prescient. Yet the dominance of finance over much of the American economy since 1980 didn't happen by accident. It needed the help of politicians — including presidents (both Republican and Democrat) — who changed laws and regulations to encourage it. Ronald Reagan's Securities and Exchange Commission allowed corporate raiders to use borrowed money to buy and dismantle American companies. The raiders (now more politely called “private-equity” managers) sold off divisions, squeezed costs, and fired workers—all to maximize “shareholder value.” The result may have been “efficient” in the narrowest sense of the term but it was socially disastrous. Manufacturing employment plummeted. Unions died. Great swaths of the Midwest and South were abandoned. Men without high school degrees suffered knockout blows. The typical wage — which had been rising steadily since the end of World War II, in tandem with the increasing productivity of the nation — began to stagnate (adjusted for inflation). For men without college degrees, real wages started a long decline. It wasn't just Reagan. Bill Clinton (with the advice of Robert Rubin and Lawrence Summers) opened the door to more financial speculation by refusing to regulate highly-leveraged derivatives (the opaque, highly profitable instruments of financial speculation that Warren Buffet called “financial weapons of mass destruction”) and by supporting Republican efforts in Congress to repeal the Glass-Steagall Act (the Depression-era law that required the separation of commercial and investment banking) and allow the creation of megabanks. When the financial bubble inevitably burst, Barack Obama endorsed the Bush administration's Wall Street bailout and appointed many of the same team of Clinton-era economic advisors who, while working under Rubin in the 1990s, had laid the groundwork for the financial crisis by encouraging speculation. Obama did what they then recommended: restore the profitability of Wall Street banks rather than reduce the power of finance and help millions of Americans who lost their homes. The bailout of Wall Street came without strings. The Obama administration did not fire any Wall Street CEOs. It did not rein in their egregious pay. It did not prevent the big banks from buying back their stock or handing out generous dividend payments to their stockholders. It imposed no losses on the banks' shareholders and creditors. It did not insist that banks stop their lobbying to obstruct reform the financial industry. Instead, Obama (and his economic advisors, headed by Laurence Summers) shifted the costs of Wall Street's speculative binge onto ordinary Americans -- deepening public mistrust of a political system increasingly seen as rigged in favor of the rich and powerful.A direct line runs from public anger over the bailout of Wall Street to the Occupy movement and the candidacy of Bernie Sanders, on the left; and to the Tea Party movement and the election of Donald Trump, on the right. I saw it and heard it in early 2016 in Michigan, Wisconsin, North Carolina, Ohio, and Iowa where I conducted focus groups: Whenever I mentioned the establishment presidential candidates Jeb Bush or Hillary Clinton, people told me they didn't stand a chance. Instead, the people I interviewed were excited by Bernie Sanders or Donald Trump. (A remarkable number said they supported both.) Again and again, I heard references to the bailout of Wall Street as proof that the economy was “rigged” against ordinary Americans, and that America needed a president who would champion average working people. As Americans went to the polls later that year, 75 per cent said they were looking for a leader who would “take the country back from the rich and powerful.” They obviously didn't get one. Trump masqueraded as a tribune of the working class but was a Trojan horse for the rich and powerful. We are still living with the political and social consequences of America's turn to financial entrepreneurship. The five biggest Wall Street banks could not have scored record profits these past two years were they not back to many of the same practices that caused them to implode in 2008 and the rest of America to pay the price. Inequalities of income and wealth are far wider now than they were when Wall Street's bubble burst. I suspect even more Americans today feel the system is rigged by the rich and powerful than they did a few years ago. It doesn't have to remain this way. We are not prisoners of bad decisions made in the past. We can and should rein in Wall Street, break up its five giant “too-big-to-fail” banks, support local and state banks, resurrect the Glass-Steagall Act's divide between investment and commercial banking, tax all financial transactions — and rebuild jobs and wages on the product side of the American economy. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit robertreich.substack.com/subscribe

Matthew Ehret Investigative Journalist, Historian Matthew is a journalist and co-founder of the Rising Tide Foundation and Canadian Patriot Review. He has published scientific articles with 21st Century Science and Technology, and is a regular author on several political/cultural websites including Los Angeles Review of Books: China Channel, Strategic Culture, Off Guardian and The Duran. He has also authored three books from the series the Untold History of Canada. “Freedom? What’s freedom? I’m Canadian,” says investigative journalist Matthew Ehret. Canada is still in lockdown. “Canadians have the freedom to stay home.” How does Justin Trudeau compare to his father, Pierre Trudeau? Matthew Ehret compares a high school economics textbook from 1944 that’s “grounded in the understanding of values” to the economics textbooks of today that are “so detached from common sense and reality.” The market is so volatile that someone only has to say something, and the value of your investment crashes, Case in point, what Elon Musk said that affected Bitcoin and other cryptocurrencies. Do China and Russia want to risk a nuclear war? Is China just playing along with the narrative of global warming? Whatever one thinks about the origin of the coronavirus, it’s for sure “we’re being played.” The official narrative is “bunk;” the reality is there’s “a push for depopulation.” We must get into the mindset of these global engineers who promote oligarchy. What part did Henry Kissinger and the Trilateral Commission play in the politics of China? When did China start pushing back against Kissinger’s opposition to nation-states and support of Malthusianism? What was Kissinger’s Nietzschean perspective? How did his belief in Darwinism affect his foreign policy? How did Kissinger’s 1970 visit to China promote the Gang of Four until Mao Zedong died in 1976? What was behind Pierre Trudeau’s 1973 visit to China? What was China’s Century of Humiliation? What did the British Empire and foreign powers do to “accelerate entropy”? China’s aim is to turn debt into value at home and in Africa with their enormous natural resources, whereas the U.S. emphasis is on installing 200 bioweapons labs around the world. Why does China regard the IMF as a “parasitical system that rejects the Five Principles of Peaceful Coexistence.” China files more parents than the U.S., and is a world leader in high-speed rail networks. How did Donald Trump initiate the reconstruction of America? Is Biden continuing along the same path or is he following the dictates of the New World Order? How did Aristotle’s 4th Century book, “Politics” influence today’s system of globalism? How does it compare to Platonism’s Mandate of Heaven? Are people born “blank slates” or are they a “reflection of the entire universe”? Sun Yat-sen was a Christian. How were his Three Principles of the People influenced by Abraham Lincoln? What was William Gilpin’s connection to Abraham Lincoln and the creation of greenbacks? What was Gilpin’s futuristic concept of a Cosmopolitan Railway hoping to accomplish for the economic linking of the U.S. with China? How did Gilpin’s vision of a global system of railroads influence the Chinese Revolution of 1911 and the current Belt and Road Initiative? Why did Wall Street want the interrelationship of nation-states to fail? What did the City of London hope to gain from World War I? Why was Ben Franklin considered “The Prometheus of America”? Why was he interested in China and Confucianism? What are the roots of our New Age of War? Why does George Soros want to “chop up China”? How is he a threat to the U.S. and the Belt and Road Initiative? How is China’s Central Bank different from the U.S. Central Bank? How is the Glass–Steagall Act involved? China wants to have a Confucian Revival, and the U.S. wants to know how to kill baby-boomers.

Good evening and welcome to the podcast where you Sleep... with Josh. Tonight, as we come to the end of a crazy few weeks in the stock market, where meme stonks have taken over the internet and the world financial system, the dramatic, coordinated short squeeze implemented by the subreddit, wallstreetbets, caused massive spikes in the price of stock in Gamestop, AMC, Nokia, etc. This wild speculation in the stock market made me think of the U.S. Banking Act of 1933 which was enacted in response to the stock market crash of 1929 which started on Black Thursday. The act included four provisions which separated commercial and investment banking as a way of fighting risky speculation and became referred to more commonly as the Glass-Steagall Act for the two co-sponsors, Senator Carter Glass of Virginia, and Henry B. Steagall of Alabama. I will therefore read the four main provision of the Glass Steagall act pertaining to commercial and investment banking. These provisions were officially repealed in 1999 as commercial and investment banking activity started to grow dramatically, which is argued as being one of the reasons the financial housing crisis of '08 happened. Now sit back, relax, and imagine rocketing to the moon because you'll get tired of this podcast... guaranteed. 

Host: Dennis Speed, LaRouchePAC NYC Guest: Diane Sare, Candidate for U.S. Senate (NJ), 2022 In 1933, Franklin Roosevelt faced a coup orchestrated by Wall Street. The General chosen to execute it, Smedley Butler, ratted the bankers out. Similarly, Abraham Lincoln, traveled by disguise to his inauguration, escaping an assassination as the result of the discovery, by patriots, of the Baltimore Plot. This is not the first time the British Empire has sought to destroy and assimilate the American Republic for larger geopolitical ends, among them, in the case of Roosevelt, a World War to capture all of Eurasia from the intrusion posed by Russian sovereignty. Just like operations against China and Russia today. Lyndon LaRouche said, often, that winning in warfare consists of directly calling out those who wish to harm you, accurately. It creates “factitious advantage,” constraining their options. Col. Richard Black is directly calling out those now plotting a post election coup against Donald Trump, a process in which we are assisting him by spreading the alarm throughout the nation. Franklin Roosevelt not only defeated the Bankers’ Coup, he also through the Glass-Steagall Act and the National Recovery Administration, defanged their power and turned their resources to a huge mobilization of the economy to pull the country out of depression. What lessons can we take from that in our mobilization today? Join us for tonight’s discussion.

In 1932, Senator Carter Glass and Congressman Henry Steagall joined forces to pass a new banking law that divided investment from commercial banking. They argued there was an inherent conflict of interest in banks performing both activities and that it was harmful to consumers. As we move into the digital world, there are firms that perform a number of different business functions and there are questions whether this hurts consumers and creates unfair advantages for particular firms.Over the past year, the House Antitrust Committee has held a series of hearings and heard complaints from businesses about unfair practices by large internet platforms. In a recent hearing with CEOs of Amazon, Apple, Facebook, and Google, subcommittee chair David Cicilline outlined a number of abuses. Now the subcommittee is finalizing its report, and Congressman Cicilline sat down with Brookings Vice President Darrell West for a candid conversation about problems in the digital economy and why America needs Glass-Steagall legislation for the internet. He explains why large internet platforms have unfair advantages and harm small and medium-sized businesses. He says it is time for Congress to enact new rules of the road for the digital economy. See acast.com/privacy for privacy and opt-out information.

JUNE 16 -- 1909 Pres. Taft makes proposal for 16th Amendment; 1884 America's first roller coaster opens, Coney Island; 1933 FDR signs Glass-Steagall Act, part of Banking Act of '33; 1965 Bob Dylan records Like a Rolling Stone

Speech by Lyndon LaRouche, U.S. Economist and Statesman, at the International Schiller Institute conference in Rüsselsheim, Germany, July 2, 2011. LaRouche spoke as part of the panel on "Imminent Disintegration of the World Financial System or Enactment of the Glass-Steagall Act?"

Part 2 of our profile on Sanford I Weill and his role at Citigroup we will take a longer look at Citi group in our last part of this trilogy. This episode covers Sandy Weill’s children and their misdeeds into falling upward in a no consequence system. The tarnished relationship between sandy and his former protégé Jamie Dimon and we close out the episode with the end of Glass-Steagall Act. The primary source for this episode was the biography "Tearing down the Walls" by Monica Langley: www.barnesandnoble.com/w/tearing-dow…ey/1023673999

Jason Hartman talks with Norm Champ, a partner in the New York office of Kirkland & Ellis LLP about preventing the next crisis. Find out some helpful financial tips from the author of Mastering Money: How to Beat Debt, and Be Prepared for Any Financial Crisis. As the former director of the Division of Investment Management at the U.S. Securities and Exchange Commission (SEC), Norm’s experience and viewpoint has many valuable lessons.  Key Takeaways: [2:05] Where is the next financial crisis going to come from? [5:00] The home in which you live, is not necessarily something that needs to be owned [11:00] Renting vs owning, taking care of the property is one of the major benefits to seeing ownership [15:00] Understanding affinity fraud [20:00] What is the Volker Rule? Was it supposed to replace the Glass-Steagall Act? [28:00] There are some benefits from circulation between the private side and the public side Websites: www.NormChamp.com www.JasonHartman.com

Jason Hartman talks with Norm Champ, a partner in the New York office of Kirkland & Ellis LLP about preventing the next crisis. Find out some helpful financial tips from the author of Mastering Money: How to Beat Debt, and Be Prepared for Any Financial Crisis. As the former director of the Division of Investment Management at the U.S. Securities and Exchange Commission (SEC), Norm’s experience and viewpoint has many valuable lessons.  Upcoming Events:  Tuesday’s Funding Webinar: bit.ly/tue2pmet Creating Wealth: 7 days per week Home Based Business: bit.ly/taxprofit Key Takeaways: [2:15] Are we witnessing the collapse of the mortgage market? [4:00] Stock up on food, and toiletries, but don’t forget to stock up on cash! Follow the golden rule [8:05] Where is the next financial crisis going to come from? [11:00] The home in which you live, is not necessarily something that needs to be owned [17:00] Renting vs owning, taking care of the property is one of the major benefits to seeing ownership [21:00] Understanding affinity fraud [26:00] What is the Volker Rule? Was it supposed to replace the Glass-Steagall Act? [34:00] There are some benefits from circulation between the private side and the public side Websites: www.NormChamp.com www.JasonHartman.com 1-800-HARTMAN Jason Hartman PropertyCast (Libsyn) Jason Hartman PropertyCast (iTunes)

Jason Hartman talks with Norm Champ, a partner in the New York office of Kirkland & Ellis LLP about preventing the next crisis. Find out some helpful financial tips from the author of Mastering Money: How to Beat Debt, and Be Prepared for Any Financial Crisis. As the former director of the Division of Investment Management at the U.S. Securities and Exchange Commission (SEC), Norm’s experience and viewpoint has many valuable lessons.  Key Takeaways: [2:05] Where is the next financial crisis going to come from? [5:00] The home in which you live, is not necessarily something that needs to be owned [11:00] Renting vs owning, taking care of the property is one of the major benefits to seeing ownership [15:00] Understanding affinity fraud [20:00] What is the Volker Rule? Was it supposed to replace the Glass-Steagall Act? [28:00] There are some benefits from circulation between the private side and the public side Websites: www.NormChamp.com www.JasonHartman.com 1-800-HARTMAN

How did our leaders get us into the Great Recession?     Do you have an idea, topic, or just what to discuss politics?  Joins us in the Facebook group @ Shoe Leather Politics Podcast If you preferer private communication, e-mail the podcast at  Shoeleatherpolitics@yahoo.com 

Today's Flash Back Friday comes from Episode 84, originally published in March 2012. Join Jason Hartman for an interesting interview with Harley Schlanger, the Western States Bureau Chief for the controversial and interesting LaRouche Pac. Harley defines the purpose of LaRouche Pac, describing it as based on the intersection of philosophy, history and science, looking at economics as physical processes and not just monetary. Lyndon LaRouche stands for a sovereign state in the United States and has been warning of the smoke and mirrors politics that have been going on since the assassination of John F. Kennedy. Harley discusses the deregulation that has been going on in this country for years, as well as many of the predictions that LaRouche Pac has made that have come true or are in the process of coming true, including the stock market crash in the ‘80s, the era of speculation that began with the end of the Glass-Steagall Act, and the freezing and collapse of the banks most recently. Jason and Harley talk about the environmental movement and who profits, the disappearing middle class, and the loss of production in the United States with NAFTA. Harley says we've lost the understanding of wealth, citing examples of production going offshore, energy production going back to solar and wind power, and how we don't even consume most of what we produce because it's shipped overseas. Harley lists many ways that our physical economy can be improved and protected, which could bring the United States back to a self-sufficient state. Website: www.LaRouchePAC.com

On 25 June 2018 Member for Kennedy Bob Katter introduced the Banking System Reform (Separation of Banks) Bill 2018 into Australian Parliament. An Australian version of the 1933 U.S. Glass-Steagall Act to separate commercial and investment banking. Here is a link to the text of the bill and explanatory memorandum, as tabled: http://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;page=0;query=BillId%3Ar6136%20Recstruct%3Abillhome

Tim Canova is a law professor that works in the area of economics and international trade. He served on Senator Sanders economic reform committee in 2011. He is currently running as an Independent against Debbie Wassermann Schultz in Florida.In the 1990s, while an associate attorney at a prominent law firm and then as a visiting professor at the University of Miami, Tim opposed efforts to weaken the 1933 Glass-Steagall Act firewalls that had separated commercial banking from the risky securities markets. He also cautioned about the rise of complex derivative financial instruments that were turning the United States into a “casino” economy. In the early 2000s, Tim warned about the growing bubble in housing prices and called for increased supervision of Wall Street banks and financial markets. He was one of the few law professors in the country who consistently opposed Alan Greenspan as chairman of the Federal Reserve Board, including a 1996 op-ed in the New York Times opposing Greenspan’s reappointment.You can donate to Tim's campaign here: https://timcanova.com/?lang=enOr mail checks to2028 Harrison St, Suite 203Hollywood, FL 33020 See acast.com/privacy for privacy and opt-out information.

Originally aired on CW 829 Join Jason Hartman and Andrew “Ranting Andy” Hoffman, Miles Franklin's Marketing Director, as they discuss the new game on Wall Street with its evil derivatives and destructive investment advice. Andy says Wall Street is no longer in the business of destroying retailers. Ever since the repeal of the Glass-Steagall Act, they've been in the business of destroying countries and taking power. Andy talks about Goldman-Sachs infiltration into political positions in other countries, and the infiltration into municipalities by other big Wall Street thugs, such as JP Morgan.

Wall Street never really embraced Donald Trump during the presidential race, directing most of their money and support to Hillary Clinton. Perhaps for good reason — while on the campaign trail,  Trump pledged to get rid of tax loopholes that favor hedge fund managers and even called to reinstate the Glass-Steagall Act of 1933. But now that the election has passed and president-Elect Trump struggles to fill his administration with appointed officials and cabinet secretaries, some people in New York are already getting on-board: Wall Street. You can see it not only in the rising stock market, but in recent comments from leaders of the financial industry. This week on Money Talking, Sheelah Kolhatkar of The New Yorker and Aaron Elstein with Crain's New York Business discuss Wall Street’s new found love for Trump, and what that could mean for his presidency. 

00:01 Telling the truth 00:28 Being in the pocket of Wall Street 00:44 The Clinton Foundation, Saudi Arabia 04:48 Paid speeches for Wall Street 09:40 Housing crisis 10:09 Glass-Steagall Act, banker bailouts 11:26 Wall Street 12:06 Trust 12:50 Gay marriage 15:02 Trans-Pacific Partnership (TPP) 15:40 NAFTA, conflicts of interest 17:48 Illegal immigration 18:56 Progressive values 19:34 Email server 22:53 Benghazi 27:27 Iraq war 30:06 Patriot Act 30:41 Edward Snowden 31:02 Foreign policy 31:38 Climate change, renewable energy, big oil 34:42 Black Lives Matter 37:12 Fear of black men 37:24 "Super-predators" 39:00 1994 Clinton crime bill, racial prejudice 44:16 Welfare 44:38 Racial wealth gap, deregulation 45:16 Confederate flag controversy 45:42 The Democratic party 45:51 Prison-industrial complex 46:20 Rahm Emanuel 46:46 Bernie Sanders 47:12 Marijuana, criminal justice reform, the drug war 48:03 Attack tactics, healthcare 49:19 Experience 49:29 Walmart, child labor 50:25 No Child Left Behind Act 50:54 Haiti 51:27 Landing under sniper fire 54:02 Council on Foreign Relations 54:48 Children 58:00 Email server, FBI indictment 1:06:38 Guns 1:07:23 Personal wealth, houses 1:08:50 Accountability Fair Use Notice: This video contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in an effort to advance understanding of political, human rights, economic, and social justice issues, etc. Under Section 107 of the Copyright Act of 1976, allowance is made for fair use for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use.

Kasey and Tyler talk about; morning routines, X-Mas 2015, bonding over hate, The Glass-Steagall Act, Tyler's car, gun legislation, and do bacon and eggs need to advertise?@whatupcuzshow @kaseyplaysbass @mrgeorgewallacewhatupcuzshow.com

What matters most is why you do what you do. Simon Sinek, best-selling author and visionary, joins us to talk about how to start with why and how to be a leader on episode 392 of The Art of Charm. The Cheat Sheet: What are the three levels our brain processes information? When we take work we love, we eventually make more money: true? What is shareholder supremacy and why doesn't it work? What was the Glass-Steagall Act? Can you still be a leader if you are not the boss? And so much more… Far too many of us go to jobs we don't love today. Have you ever wondered if there's a cost to doing so? Or if there really is a way to enjoy, even love, the work we do every day? Our guest for today's show says yes to both questions. Simon Sinek, best-selling author, visionary and speaker, joins us to talk about how to start with why, how to be a leader no matter your title, and how to find fulfillment in every area of your life.   Simon Sinek is one of today's foremost thought leaders and visionaries; his personal reason for doing what he does is to inspire others to do what inspires them. On today's show he shares the missing piece of starting with why, the massive impact it has on your family and loved ones if you are unhappy in your work and how you can be a leader regardless of your position. If you ask someone why they do what they do, they probably won't have an answer. Simon says most of us know what we do and how we do it, but not why. The why is the missing piece of the puzzle. And it's that why that is so key to living an inspired and inspiring life. If we come home from our job and complain about it every day it not only makes us feel terrible and those around us, but it sets an example for our kids. We're showing our children that work has to be something that is endured and makes us miserable, rather than something that brings us joy, fulfillment, and purpose. But we can change all of that. If we run a business we can become a leader, and not just a boss. We can carefully select our new hires to be sure they are a fit for our company. And we can put our current employees first who will then put our customers first which will then lead to an increase in profits and growth in our company. If we aren't the CEO or a manager in our current company, we can still be leaders. We can start flexing this muscle in little ways by holding the elevator door for someone, and making a new pot of coffee if we drink the last cup. As leaders we choose to be responsible for the people around us and for their fulfillment and their growth, not just our own. Simon and I also talk about why a leadership buddy is so important, why most companies' hierarchy is so illogical, and why the economic decisions of the '80s and '90s are still having an impact on us today. Simon shared on those topics and more, so listen in to hear it all. THANKS, SIMON SINEK! If you enjoyed this session of The Art of Charm Podcast, let Simon know by clicking on the link below and sending him a quick shout out at Twitter: Click here to thank Simon at Twitter!   HELP US SPREAD THE WORD! If you dug this episode, please subscribe in iTunes and write us a review! This is what helps us stand out from all the fluff out there. FEEDBACK + PROMOTION Hit us up with your comments and guest suggestions. We read EVERYTHING. Download the FREE AoC app for iPhone Email jordan@theartofcharm.com Give us a call at 888.413.7177 Stay Charming!

How could the real estate market in only 4 essential states in the US have caused the Global Meltdown of 2008? How could an over-inflated stock market in the US in 1929 have caused the worldwide Great Depression of the 1930's?How is it that small bubbles in any asset base can take down an entire global system? It only really happens when the banking system buys into the bubble, and then grows Too Big to Fail! In this episode of Straight Talk Wealth Radio, host Bruce Weide explores what has changed in the US banking system since the 2008 Meltdown, and (shockingly) what has not. For his research, he turns to 4 authorities who have studied the banking meltdown extensively, from the inside and out. FEATURED ON THIS EPISODE,The words of: Sen. Elizabeth Warren (as interviewed by Charlie Rose on the release of her new book, A Fighting Chance): One of the most outspoken prophets of the 2008 Banking Crisis and the risk that the mortgage industry was involved in. She is a current co-sponsor with Sen John McCain of national legislation to bring back the Glass-Steagall Act of the Great Depression era which placed a virtual firewall between commercial banks, and investment markets. David Stockman (as interviewed by Bill Moyers) Former White House Budget Director under Ronald Reagan, and recent author of The Great Deformation: The Corruption of Capitalism in America. Today he is an outspoken critic of the massive Quantitative Easing money-printing experiment of the Federal Reserve Bank. Gretchen Morgenson (as interviewed by Bill Moyers): N.Y. Times reporter and author of Reckless Endangerment: How Outsized Ambition, Greed and Corruption Led to Economic Armageddon. She has exhaustively investigated the role of Fannie Mae and Freddie Mac in the Mortgage Meltdown of 2008. William Isaac (as interviewed on Newsmax TV): Former Chairman of the FDIC (appointed by Ronald Reagan), the very agency entrusted to regulate bank risk. Author of Senseless Panic: How Washington Failed America, Mr. Isaac gives a deep insiders view of effective bank regulation in a free market economy, and how the mistakes made in the Panic of 2008 failed to reset our economy. What's most amazing amongst these authorities from both, the Left and the Right, is how much they agree! Hear this Straight Talk Wealth episode today, before it becomes tomorrow's lead economic news story in the next meltdown!

Join Jason Hartman and Andrew “Ranting Andy” Hoffman, Miles Franklin's Marketing Director, as they discuss the new game on Wall Street with its evil derivatives and destructive investment advice. Andy says Wall Street is no longer in the business of destroying retailers. Ever since the repeal of the Glass-Steagall Act, they've been in the business of destroying countries and taking power. Andy talks about Goldman-Sachs infiltration into political positions in other countries, and the infiltration into municipalities by other big Wall Street thugs, such as JP Morgan. For more details, please visit: www.JasonHartman.com. There is no more retail stock market and the consequence is record unemployment numbers. The government has been in bed with Wall Street and pushing out propaganda for years, but people are fed up with the game and the government is on the defensive. Andy also shares his expertise about the Gold Cartel and explains how the COMEX is a charade, controlled by the likes of Goldman-Sachs, causing people to lose confidence in the trades due to the wide spread between paper and physical gold. Andy warns that we need to protect ourselves as people become more disgruntled and distrusting, while the potential exists for the government to respond by tightening down the shackles with economic and perhaps even military martial law. Andy calls this the “end game” and people need to be prepared as citizens and nations lose their sovereignty. The paradigms that everyone has been taught about stock markets and home ownership don't apply anymore. Things are falling apart right now as the dollar continues to lose value through the non-stop printing presses.  The only real money is in the form of gold and silver, and only if you own it physically. It's time to simplify. Andrew ("Andy") Hoffman, CFA, joined Miles Franklin as Marketing Director in October 2011.  For a decade, he was a U.S.-based buy-side and sell-side analyst, most notably as an II-ranked oil service analyst at Salomon Smith Barney.  Since 2002, his focus has been entirely on Precious Metals, and since 2007 has written under the moniker "Ranting Andy."  Prior to joining the company, he spent five years working as an Investor Relations officer or consultant to numerous junior mining companies.  An archive of Andy's "RANTS" can be found on the Miles Franklin Blog.

Join Jason Hartman and Andrew “Ranting Andy” Hoffman, Miles Franklin's Marketing Director, as they discuss the new game on Wall Street with its evil derivatives and destructive investment advice. Andy says Wall Street is no longer in the business of destroying retailers. Ever since the repeal of the Glass-Steagall Act, they've been in the business of destroying countries and taking power. Andy talks about Goldman-Sachs infiltration into political positions in other countries, and the infiltration into municipalities by other big Wall Street thugs, such as JP Morgan. There is no more retail stock market and the consequence is record unemployment numbers. The government has been in bed with Wall Street and pushing out propaganda for years, but people are fed up with the game and the government is on the defensive.

Today we speak with Sara Nunnally about Barbarians of Wealth, that she co-authored with Sandy Franks. It examines how the greedy, self-serving decisions of a select group of politicians and financial institutions negatively impact the economy and destroy America's prosperity and the American way of life. Sara will detail how Goldman Sachs peddled mortgage-backed securities up and down Wall Street while secretly betting upon their demise. We will discuss how Sanford Weill, founder of Citigroup, spent $100 million lobbying for the repeal of the Glass-Steagall Act, which prevented the merger of commercial and investment banks, and got his way. Sara will offer up examples of other modern barbarians, including the Federal Reserve, Alan Greenspan, Hank Paulson and Timothy Geithner. Barbarians of Wealth is a timely must read for hardworking Americans concerned with their prosperity, and those fascinated with the inner workings of Washington and Wall Street. www.barbariansofwealth.com

Today we speak with Sara Nunnally about Barbarians of Wealth, that she co-authored with Sandy Franks. It examines how the greedy, self-serving decisions of a select group of politicians and financial institutions negatively impact the economy and destroy America's prosperity and the American way of life. Sara will detail how Goldman Sachs peddled mortgage-backed securities up and down Wall Street while secretly betting upon their demise. We will discuss how Sanford Weill, founder of Citigroup, spent $100 million lobbying for the repeal of the Glass-Steagall Act, which prevented the merger of commercial and investment banks, and got his way. Sara will offer up examples of other modern barbarians, including the Federal Reserve, Alan Greenspan, Hank Paulson and Timothy Geithner. Barbarians of Wealth is a timely must read for hardworking Americans concerned with their prosperity, and those fascinated with the inner workings of Washington and Wall Street. www.barbariansofwealth.com