Tulsi believes Americans should have peace of mind knowing that the health of their mortgage, retirement plan, or even salary isn’t tied to a roll of the dice on Wall Street.
There are two kinds of people serving in Congress: Those who are serving the interests of the American people, and those who are serving the interests of the big banks and Wall Street speculators.Tulsi Gabbard
Here are some of the most important steps we need to take to protect our economy:
- Break up the big banks - Banks that are “too big to fail” are simply too big. As long as individual banks hold such a huge portion of our economy, then we are bound to be faced with having to bail out the giant banks again. This will devastate our economy.
- Restore the Glass Steagall Act - For decades, the Glass Steagall Act protected the public by separating risky investment banking and commercial banking. Had this common sense regulation not been repealed, we never would have faced the economic hardship that we do today. Without this healthy separation, greed leads bankers to leverage available funds for the highest profit potential - and often riskiest investments.
- Ban naked credit defaults - Naked credit defaults are a form of excessive speculation that put our financial markets in a position of unnecessary and unhealthy risk. As a form of gambling, naked credit defaults have no place in our banking system.
Tulsi is a co-sponsor of H.R.3711 - 21st Century Glass-Steagall Act of 2013
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