Sam Kahl 0

Urging Senator Wyden and Senator Merkley to join Senator Warren's Vanguard

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First, the tax payer is put into the trap. This was called bail-out. Then the Federal Reserve purchases too-big-to-fail so-called assets. This was called Quantitative Easing. Now the depositor is to be fleeced. This is being called bail-in. The principle being followed is: save the too-big-to-fail financial system first, even at the expense of productive economy. Enough is enough. Abraham Lincoln rightly observed, capital is the fruit of human labor. Economic progress is grounded in advancement of human labor. It's vanguard is the educational system. The Banking Act of 1933, known as the Glass-Steagall Act, separated productive from speculative finance, and subordinated productive finance to economy. Sen. Elizabeth Warren, with Maria Cantwell, John McCain and Angus King, have filed a 21st Century Glass-Steagall bill (S.1282). Earlier, on July 3, 2013, 26 Oregon State legislators had filed a Senate Joint Memorial 11,which "urges Congress to support efforts to reinstate separation of commercial and investment banking functions in effect under the Banking Act of 1933." Senator Merkley and Senator Wyden, we the undersigned want you signing on as co-sponsors of Sen. Warren's 21st Century Glass-Steagall legislation and in other ways possible joining Sen. Warren in her effort to overcome the Wall Street interest.

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