Rachel Brown: The Time for Glass-Steagall is Now!
May 15, 2012 • 10:44PM

by Rachel Brown, current candidate for US House of Representatives from the state of Massachusetts and member of the LaRouche national candidates movement for federal Congress

It is becoming ever more clear that the Obama-Barney Frank swindle, of so-called, "attempts to rein in Wall St.," have failed, and many, including Massachusetts Senatorial candidate Elizabeth Warren, have joined the call to reinstate Glass-Steagall, and are pressing to do so before the November elections.

I welcome Warren's strong statements on this, and as the leadership of the Democratic Party in Massachusetts knows, this was the central feature of my campaign for Congress in 2010 against Barney Frank. At that time, I was essentially a lone wolf on this, sticking my neck out there to defend the American people from the sham of the Dodd-Frank bill, while all the other Mass. democrats cowered in the face of Barney's bullying, and White House pressures. Now, with Warren's recent call for Glass-Steagall, in the wake of the J.P. Morgan revelation, it is out in the open: Barney was wrong, and LaRouche, and I, were right. The Dodd-Frank Bill and Obama's endless bailouts did nothing to change the system, and we are now much worse off; precariously on the verge of disintegration.

A Solution NOW!

There are now over 50 co-sponsors in Congress for H.R. 1489, Marcy Kaptur's bill to reinstate Glass-Steagall, which includes bi-partisan support. It's currently stalled because of opposition from Obama, the British patsy, who personally sent Tim Geithner to kill any attempts to include Glass-Steagall in the 2009 Dodd-Frank financial regulation bill, and has since issued a statement on the White House website that Glass-Steagall should not be reinstated, saying: "Simply going back to Glass-Steagall would not have solved the failures of our modern financial system or prevented the financial crisis that led to the worst financial crisis in our lifetimes..." What lies! We're still in the worst financial crisis of our lifetimes, because we haven't enacted Glass-Steagall!

At a better time in our nation's history, Franklin Roosevelt implemented the Glass-Steagall firewall and saved the nation. Wall St. never forgave him, and today the same banking institutions are dictating policy through Obama. The many cowardly Democrats who have been defending Obama should join with LaRouche, and myself, and ensure that Glass-Steagall is reinstated immediately, before this bankrupt-mess of an international system collapses.

My message to the recently converted Democrats--who needed a wake-up call like the one just seen on Wall St. to come around on Glass-Steagall--is to change your butt-kissing ways once more, and realize in short order that LaRouche and I are right on this point too: that in order to save our nation, and implement a true Franklin Roosevelt recovery before it is too late, President Obama has to go, now, way before the election in November.

Watch Rachel Brown's historic 2010 debate with Barney Frank on Glass-Steagall here.

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