“America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.”
― Abraham Lincoln
by Danny Hammond
I have been writing about this subject extensively, especially the devastation brought on the American people by the Democrat President Bill Clinton and the Republican dominated Congress when in 1999 they repealed the Glass-Steagall Act of 1933. This Act which was the government's answer to what caused the Great Depression had kept the country's financial markets safe for nearly 70 years. They Repealed the Act, but put no regulation in its place. Nine short years later the Great Wall Street Meltdown nearly broke the entire world's markets. There is still no such regulation in place and foreclosures are still spiking and retirees are already seeing their retirement income cut. Idiots.
Ms. Sullivan wrote this piece in 2016. She was right on it then. But, who do we complain to? If we are to survive as a country, it is the people who must do the heavy lifting. Danny Hammond
By Sydney Sullivan
People are wondering why unions are dwindling – it’s because of the securitization/rehypothecation scheme targeted unions to invest in their UNREGULATED DERIVATIVES,. while Congress has done nothing to stop it. Union busting? Globalism? Agenda 21?
Shortfall. Unfunded. Underfunding. It sounds like a minimal pension issue – however, it is anything but that. You may have heard the words “shortfall” when your state refers to its government budget or pension plan; and, if you are young (say, under 40), you’ve probably not given it a second thought. Just so you know “shortfall” is defined as “a failure to come up to expectation or need” and at 40 it seems like there will be plenty of time and ways to make up a shortfall… not so much when you are 60.
If you’re like many Americans, you’re worried about retirement. Maybe before the new century securitization scheme was launched, a “shortfall” might have been more easily explained and handled. But after 2000, the Wall Street securities system ramped up and took deficits to a new high while lining the pockets of Wall Street traders. How did this happen?
How did the USA get to over $3.4 TRILLION in unfunded pension debt? The answer is not something your Congressional or state legislators want to discuss in public …or even in confidence. What caused “shortfalls”? To understand how a state could get so severely “underfunded” with their pension funds, you must first understand that this 
didn’t just happen overnight. De-regulation and rule changing have been going on since the last Great Depression, though the final wallop occurred when Congress repealed Glass-Steagall in 1999. “Glass-Steagall was designed to prevent exactly the kind of collaboration that brought us the Goldman-Sachs fraud.” Source: Daily Kos.
Now, a lot of people blame a Republican Congress under the Clinton administration for the demise of Glass-Steagall – however, that is not altogether true. The House Democrats were instrumental in passing the repeal – even Nancy Pelosi (whose husband worked for Countrywide) voted “yea”. A sad fact, but true. We all make mistakes as both the parties agreed it was best to reinstate Glass-Steagall – at least as far as their party platforms go.
Check the record … how did your own Senators and Congresspersons vote?
by Danny Hammond & Cindy (not her real name)
