Occasional thoughts and deeds of an Engineer
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  • Americans PTSD

    Posted on January 9th, 2017 cwmoore No comments

    From 2012 Timeline I recently revisited but I still think it is appropriate:

    Jim Quote”””””””””””””””””””””””

    The economy, and the need for jobs, has been on everyone’s minds since 2007. Since nay-sayers of both parties are pointing fingers and throwing accusations once again about who caused this latest recession, let me illustrate (thanks in part to Wikipedia) what was to become a key reason for the economic collapse that hit all of us:
    In November of 1999, Congress repealed the Glass-Stegall Act (GSA) of 1934, with the establishment of what would become the Gramm-Leach-Bliley Act, which eliminated the GSA restrictions against affiliations between commercial and investment banks. Furthermore, the Gramm-Leach-Bliley Act, also known as the Financial Services Act, allowed banking institutions to provide a broader range of services, including underwriting and other dealing activities. Congress moved the GLB bill to a joint conference committee to work out the differences between the Senate and House versions. Democrats agreed to support the bill after Rep…ublicans agreed to strengthen provisions of the anti-redlining Community Reinvestment Act and address certain privacy concerns; the conference committee then finished its work by the beginning of November. On November 4, the final bill resolving the differences was passed by the Senate 90-8, and by the House 362-57. The legislation was signed into law by President Bill Clinton on November 12, 1999.
    I wish to point out that Congress – BOTH Republicans & Democrats – with the blessing of then-President Clinton –did not solve a problem that had been festering for three decades. GREED. Greed by major banks and financial institutions to make more money. In fact, this GLB bill encouraged them to play the rules fast & loose, and, as a result, when banks failed, there was NO money in reserve. WE had to bail them out. WE are the government, and Congress acts on our behalf — leastwise, they are supposed to do so.
    I ask you to think seriously about who you will be selecting to represent you and me. Don’t look at red or blue — don’t look at R or D –look at the man or woman, and judge whether he can do the job he (or she) was sent to do. Please – turn the sound bites off — and THINK.

    End Jim Quote””””””””””””””””””””””””””””””””””””

    So there you go.  did anyone listen?  Did the public respond – yep, they sure did and that is what mad people do – blindly lash out at whatever pain they think they have.  What I really think is that the American people have PTSD.

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