Grievance 14: Banking & Securities Reform

BE IT RESOLVED THAT WE, THE NINETY-NINE PERCENT OF THE PEOPLE of the UNITED STATES OF AMERICA, in order to form a more perfect Union, by, for and of the People, shall elect 878 Delegates on the weekend of June 1st, 2012, and convene a NATIONAL GENERAL ASSEMBLY the week of July 4, 2012 in the City Of Philadelphia to prepare and ratify a PETITION FOR A REDRESS OF GRIEVANCES on behalf of the Ninety-Nine Percent of the People of the United States to be served upon the United States Congress, United States Supreme Court and President of the United States prior to November 6, 2012.

HELP DRAFT THIS HISTORIC DOCUMENT! The final version of the PETITION FOR A REDRESS OF GRIEVANCES, is to be written and ratified solely by the elected Delegates, and may or may not include the following grievance currently suggested by the 99% Declaration Working Group. We are asking you, America's 99%, to inform the representative Delegates and participate in the drafting of the final petition by signing on each grievance you support and if you wish, please add your comments below. Click here to see the full list of grievances.

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Banking and Securities Reform.  Immediate reenactment of the Glass-Steagall Act and vigorous enforcement of the “Volcker Rule” regulating speculation and long overdue enforcement Sherman Anti-Trust Act in all industries. Increased regulation of lending institutions and Wall Street firms, including criminal enforcement referrals by the SEC, FINRA, CFTC to the Justice Department and the other financial regulators including the recently established Consumer Financial Protection Bureau.

The People further demand an immediate investigation by the Justice Department into the potential criminal practices of the Securities and Banking industry that directly led to the collapse of markets, mortgage-backed securities fraud, foreclosure crisis, trillion dollar bank bail-out and firm failures in 2007-2008.

New uniform federal regulations enacted to specifically limit what banks may charge consumers for ATM fees and/or the use of debit cards and other so-called miscellaneous fees.

 

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Walter Pankoe signed 2012-03-15 01:32:21 -0400
Myron Mason signed 2012-03-14 22:12:45 -0400
I strongly agree with the immediate reinstatement of the Glass-Steagall Act and strict banking&financial regulations. I also add that the Federal Reserve be abolished and that a true Third Bank of the United States be established in its place and would issue credit to the states for investment in infrastructure and other projects and programs for the welfare of the nation.
William Hodge signed via William Hamilton 2012-03-14 22:07:34 -0400
An important part of Banking reform is to remove Corporate Bank control of the Federal Reserve Banks. The Federal Reserve should be solely controlled by the Government and used to finance Government debt with no interest charges. There is no logical for taxpayers to be forced to pay interest on borrowed money form Corporate Banks when the Constitution charges Congress to create and value money.
Kristen Potter signed 2012-03-14 14:16:47 -0400
Winfield Schmitt signed via Karlie Cole 2012-03-13 22:30:16 -0400
will landstrom signed via Karlie Cole 2012-03-13 22:12:52 -0400
The 99% Declaration posted about 14. Banking & Securities Reform on The 99% Declaration's Facebook page 2012-03-13 22:11:15 -0400
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