Support H.R. 1489: Return to Prudent Banking Act of 2011

As the Occupy movement has taken hold, we have been searching for concrete changes we can stand up for. Despite what many in the MSM (mainstream media) would have you believe, it is not the job of Occupy protesters to come forward with solutions to problems. THAT job belongs to politicians (who have been hired to write laws on our behalf). One of the goals of this movement is to get those in power to stop listening to lobbyists and talk radio hosts, and start listening to the 99%.

However, there is one, simple demand many of us have: a return to the regulations that kept commercial banking and investing banking separate – ie, return many of the Glass-Steagall provisions that were repealed in 1999 (and which lead to this unregulated mess we found ourselves in less than 10 years later). Fortunately, a little googling, and lo and behold, there is a bill floating around to do just that. As the title of this post suggests, it’s called The Return to Prudent Banking Act of 2011, and one of its goals is to get Glass-Steagall protections back on the books.

You can read the text of the bill here: H.R. 1489 (thomas.loc.gov)
Here is a page listing its status:  H.R. 1489: Return to Prudent Banking Act of 2011 (govtrack.us)

As of May 2nd it was going through the Subcommittee on Capital Markets and Government Sponsored Enterprises.

This bill is vitally needed to help put a stop to insanity that financial deregulation has caused, and everyone reading this should do something to help persuade our members of Congress that they need to listen to the 99% and support this.

I will begin compiling action items here we can all do to help push this bill through Congress. And of course, if you have any resources you have found (petitions, etc) please post them in the comments below. And please get the word out!

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