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Tea Party Tribune Calls on Readers to Support Glass-Steagall

April 24, 2014 (EIRNS)—An 800-word article in the Tea Party Tribune posted yesterday by "Sartre" endorses Glass-Steagall’s urgency, names the four bills now before the U.S. Congress, and pushes its conservative readers to support Glass-Steagall. It states: "It is disappointing that progressive collectivists are leading the effort for a return to a law that served well for decades. The absence of bipartisan support is disturbing. Lefty loons embrace Elizabeth Warren for many foolish reasons. In spite of this, her claim that ‘Reintroducing Glass-Steagall will make it so depositor’s money cannot be used for for the derivatives market’ is a desired objective."

The article, titled "Repeal of Glass-Steagall and the Too Big to Fail Culture Too," opens with a prominent box titled, "Bring Back Glass-Steagall!" explaining what it is and when it was passed, urging, "Tell congress to rebuild the protective wall between investment banks and mortgage banks!"

It proceeds to trace the 2008 banking crisis to Glass-Steagall’s repeal, and the wrecking of the real economy which followed. Then it continues:

"A prominent proponent of restoring Glass-Steagall has been the LaRouche PAC. ‘Glass-Steagall is the indispensable first step to global economic recovery. It will immediately halt the onset of hyperinflation, remove government commitment from bailing out toxic debts, end too-big-to-fail banks, and force a separation of commercial banking functions from investment baking functions, thus cleaning up the nation’s banking system to make way for real, long-term investments. There are now two bills in each house calling for the restoration of President Roosevelt’s 1933 Glass-Steagall law....",

naming the bill numbers and sponsors.

It says that

"the political will is entirely absent to go against the banksters" and "Enactment of an updated Glass-Steagall is certainly not the definitive answer to an unsustainable debt-ridden financial fiat banking system. Yet, where does one start to build public critical mass to replace the private Federal Reserve monopoly on money, with economic commerce, that is not the prisoner of banking exploitation? The disastrous institution that fails us all is the current banking cartel."

Sartre is cited as publisher of Breaking all the Rules.