Posted: August 14, 2014
This linked article below is from Wall Street on Parade. It discusses two important bills that Tom Udall voted “YES” on. He screwed all of us with both votes.
Glass Stegall was an older bill, written in 1933. It did what it was supposed to do.It kept Wall Street investment banks and big banks from taking deposits and then using those deposits to gamble in derivatives and loose money schemes. It kept banks from speculating with YOUR MONEY! In the Clinton years, Congress decided to get rid of this law and they did. They let banks, Wall Street Investment firms, take money and use that money to gamble. You can see how that turned out. You had a massive collapse of the financial system and the Federal government bailed out companies all over the globe. We still haven’t recovered.
TOM UDALL VOTED “YES” TO GET RID OF GLASS STEGALL AND LET THE CASINO BEGIN!
Dodd Frank was passed after the collapse. It was supposed to fix the problem. What it did was allow the big banks and Wall Street gurus to take even more deposits of your money and make even riskier gambles. No one has gone to jail for their excesses. Big banks have gotten bigger. We still haven’t recovered. They are thinking of redoing the Dodd Frank fiasco in Congress now.
TOM UDALL VOTED “YES” FOR DODD FRANK AND LET THE DICE KEEP ON ROLLING!
When you do even the least bit of research you can see that Tom Udall is enjoying taking money and perks from financial interests while saying he is fighting to protect you from them.
You might buy his fabrications, distortions and excuses. We hold him to his votes and call him out.
Whose side do you really think Tom Udall is on? The side he votes for and takes money from, or your side?
Full article here >>>.