Dear Editor: Why hasn’t there been a grand jury investigation into the full banking fraud? Have we become a nation that promotes and rewards rich white-collar criminals and allows them to harm innocent working folks?
Let’s look at those doing the right thing:
The Terminating Bailouts for Taxpayer Fairness Act of 2013, sponsored by Sen. Sherrod Brown, D-Ohio, and Sen. David Vittner, R-La., seeks to raise capital standards, making banks keep more money on hand. Brown will also reintroduce the SAFE Banking Act to require banks to sell or spin off assets to be under $600 billion in size.
Sen. Elizabeth Warren, D-Mass., and Sen. John McCain, R-Az., introduced the 21st Century Glass-Steagall Act to allow banks to remain big but not too big to fail, regulate, or sue.
Other good politicians signed onto Brown’s letter seeking to put Janet Yellen in charge of the Federal Reserve. Why would President Obama try to give that post to Larry Summers — a major player at the center of the corruption, per investigative journalist Greg Palast?
Approximately 50 percent of American adults in a Rasmussen poll want the banks made smaller.
The do-nothing obstructionists in Congress continue to prevent reform where it is needed. They stopped Warren from being in charge of the Consumer Financial Protection Bureau, and now they want to stop these bipartisan senators from passing desperately needed reform bills.
We need to watch very closely if Wisconsin’s senators lead or obstruct on banking reform and other needed reforms.