Want To See The Hope Of The Return Of Glass-Steagall Die?

From Janet [Tavakoli] this morning (my editorializing is below)

JT Note:

If you wanted to kill the only remaining viable bill for the return of Glass-Steagal, then quashing Congresswoman Marcy Kaptur’s (D. Ohio) chances would be one way to do it.  Congresswoman Kaptur has the principal bill in the House—the only remaining bill in Congress—and has slowly and steadily gained support for it with the Democratic Caucus.  She’s also the only Member that has asked insightful questions at the MF Global hearings—a hot button issue, because Jon Corzine was huge fundraiser/allocator and is well protected in Congress.

You may be aware that Congresswoman Kaptur is up for reelection in a newly redistricted Ohio.  The redistricting was so odd that she had to run—and won—in the primary against former Congressman Dennis Kucinich (he’s also made a try for the party’s nomination for president in past primaries and failed).  After his loss, Kucinich has not (yet?) endorsed her.  I don’t know the reasons (my guess is pettiness), but it’s all the more odd, since the Democrats just lost a representative (him) and Congresswoman Kaptur must run in a substantially changed district representing to a great degree a new-to-her constituency.  As a practical matter, raising funds to run as a Representative is difficult, so one would have thought he’d lend support, particularly since…

Congresswoman Kaptur’s opponent is Samuel Wurzelbacher, aka “Joe the Plumber,” who won the Republican primary.  Herman Cain has already come out in support of Wurzelbacher.



P.S. Disclosure: I don’t consider myself a member of either political party.  I vote as an Independent. In the last presidential election I contributed ($1,000 each) to both then Senator Obama’s (D. Il.) campaign and John McCain’s (R. Arizona) campaign and in the end voted for John McCain.

P.P.S.  You may also find this of interest: Congresswoman Marcy Kaptur Confronts MF Global and Wall Street

Huffington Post – December 26, 2011

Folks, if you want to vote “left-right” in this election in a race like this you’re free to do so, but you’re a fool.

There is no issue more important in the present time than putting the banks back in the box they were in during the time of Glass-Steagall.

If we do not both do that and stop the deficit spending this nation is finished.  It is mathematically impossible to sustain the deficit spending trends we have today and if we allow the financial institutions to continue to gamble with customer funds and counterfeit the currency when, not if, the corner is found on the deficit the entire financial system will implode at the same time we have a government funding crisis.

Down this road we can lose our nation.  For real.

Wake up America.

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