What shall we do to bring Wells Fargo and Wall Street to justice, before they bring us again to mass unemployment and impoverishment?
The nearly unanimous Congressional override of President Obama’s attempt to veto the Justice Against Sponsors of Terrorism Act (JASTA) was a great blow for justice. It was a severe defeat for a dangerous president, whose Administration is publicly threatening to target Russia with terrorism or even with nuclear weapons.
Use the experience of JASTA to remind yourself of what the people of the United States can do of their own will, as they did in rising up and achieving that override. Recall how a similar uprising stopped Obama in 2013, when following the disastrous Libya war he was in the act of throwing U.S. forces into Syria and multiplying the disaster.
Both times, the aimless and dissembling Congress was transformed by popular mobilization into a serious Constitutional body, when the moral survival and dignity of the nation was at stake.
We are facing a banking system headed for a new collapse which, if we do not change to the Glass-Steagall policy fast, will impoverish the peoples of Europe and the United States beyond anything the 2008 crash did. The big banks of Europe and America are all one London-centered, Wall Street-centered mess, committing immoral acts and crimes without end and threatening, again, to implode into chaos.
Deutsche Bank is the world “leader” in derivatives gambling and is now “leading” the trans-Atlantic banking system into another crash.
Wells Fargo was one of the very biggest, claimed to be “the cleanest,” and has been exposed as one of the worst. Justice demands that Wells Fargo, and the other giants of Wall Street be broken up, their derivatives casino operations written off, their managements replaced. Justice, in the case of Wall Street, means Glass-Steagall justice.
And we must make the Congress do this fast.
Fundamentally at stake is economic progress, the prospect of returning to investment in technological advance and real productivity growth.
It goes back to the the proposed adoption of “Four Cardinal Laws” for long-term progress, spelled out by EIR Founding Editor Lyndon LaRouche in statements of May-June 2014.
The first is a restored Glass-Steagall Act, provoking immediate follow-on adoption in European nations as well. The second is the issuance of national credit for production through a Hamiltonian national bank or Rooseveltian Reconstruction Finance Corporation. Third, to guide investment of that credit, is definition of the most advanced infrastructure projects which will add the greatest degree of new productivity to our population, including a greatly revived program of Moon and deep space exploration in cooperation with China in particular. Fourth is — finally — to adopt a true crash program for fusion power and fusion technologies.
That approach will determine the actual capacity for progress of the economy, productive employment, productivity. And the work on it since May-June 2014 has made it possible, that Glass-Steagall is the number-one issue of economic justice and progress of the United States right now.