Issue Position: People Before Politics

Issue Position

Greed is powerful and seems to buy patronage. Therefore, we need some regulations to keep greed in check. The Glass-Steagall rule that separated regular retail banks from investment banks and holding companies was a good rule born from the Great Depression. We need to restore that rule and reign in many other greedy activities, some of which are illegal, like robo-signed foreclosures. The financial abuses, like credit default swaps, collateralized derivatives, extreme leverage allowing some banks to lend a single dollar simultaneously up to 40 times, abuses by "special waiver' on the commodity exchange... these are just a few of the horrible activities that diminish the value of our homes, our pension funds, our "spare money' and our financial security. It needs to stop. The financial system is rigged against the Middle Class. Let's make changes. Let's have an honest economy.

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