Rep. Tulsi Gabbard Wants To Find Out Why Congress Hasn’t Reinstated Glass-Steagall

Nov. 27, 2019 (EIRNS)—Rep. Tulsi Gabbard (D-HI) has mentioned the feared word—Glass-Steagall—which no other Democratic presidential candidate dares mention.

In a video-taped meeting Nov. 24 with supporters, carried on Twitter, Gabbard discussed the “revolving door” by which executives from Wall Street banks or corporate America go back and forth between their private-sector jobs and U.S. government jobs, serving as lawmakers or in some other capacity, involving “oversight and responsibility.” They go back and forth, so, she said, “We can’t be naive enough” to think that someone who’s been working on Wall Street and is then appointed to a position on the Securities and Exchange Commission (SEC) “is somehow all of a sudden going to be advocating for us” now that they’re into a government position. No. “They look out for big banks on Wall Street,” and go back and get paid a lot of money when they go back to that industry.

Gabbard explained that,

“that’s why we’re in a position today that big banks on Wall Street are bigger than when they were ‘too big to fail.’ Why is it that Congress hasn’t reinstated Glass-Steagall? That’s heresy for so many in Washington because of the influence that these big banks have in Washington and on elected officials, on senior staffers.”

Americans, she said, “get why this is so important. People aren’t stupid. Unfortunately, Washington doesn’t give people the credit that they deserve.”

The Hawaii Representative also told the gathering that “a democracy can only be strong if we the people are informed, involved and working side-by-side. I will be your voice, taking the power back from the self-serving corrupt politicians and usher in a 21st century of peace and national security, human dignity and true equality.” She might have added that implementing Lyndon LaRouche’s Four Laws should be the priority to achieve that goal. She was correct in saying that people should “demand more and better from our elected leaders; pass legislation that will close the revolving door that we have in Washington right now, that perpetuates so much of the legal corruption that we are seeing.”