Congressman Dennis Kucinich (D-Ohio) has put forth a bill that would cease the profiteering in our financial institutions. In 1913 congress attempted to stabilize the banking industry. Thanks to bad policies and little oversight a great imbalance has occurred. It has become so undeniably evident that the Occupy Wall Street movement was conceived. The solution is what both libertarians and conservatives have long aspired for, the ending of the Federal Reserve.
The National Emergency Employment Defense (NEED) Act of 2011 would place the Federal Reserve under the control of the U.S. Treasury. The wall of separation between commercial and investment banking that was knocked down by repealing the Glass-Stegall Act of 1933 would be reconstructed. As well as implementing new rules for the financial industry in hopes of ending the horrible abuses we are currently enduring.
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