May 30, 2017

Tulsi Gabbard: Break Up the Big Banks | May 26, 2017 | Blogger: Ooh man! I really like Tulsi Gabbard... |


Tulsi Gabbard has served as the U.S. Representative for Hawaii's second congressional district since 2013. She was born in American Samoa but moved to Hawaii at age 2. At 21, Gabbard was the youngest state legislator ever elected in the history of Hawaii. Gabbard enlisted in the Hawaii Army National Guard in 2003, and in 2004 she was shipped out to Iraq with the 29th Support Battalion medical company. As a native Hawaiian and military veteran, the congresswoman’s voice holds a lot of weight in her home state.. Gabbard resigned as DNC vice-chair on February 28, 2016, in order to endorse Senator Bernie Sanders for the Democratic presidential nomination. She was the first female U.S. Representative to endorse Sanders. At the 2016 Democratic National Convention, Gabbard gave the nominating speech putting his name forward.

Last week Treasury Secretary Steven Mnuchin indicated that the Trump administration will oppose any common sense legislation to break up the big banks and they will also support allowing “too big to fail” banks to continue to gamble with American’s hard earned savings, retirements funds, etc., just like they did before the Great Recession and the $700 billion taxpayer bailout of Wall Street. In a word, the Trump administration will cater to the demands of Wall Street, rather than what’s needed for the American people. I have long pushed for a 21st Century Glass Steagall Act, to break up the “too big to fail” banks, separate risky Wall Street investments from ordinary commercial banking, close loopholes that allow risky banking practices, and enforce penalties for banks that break the law. It is absurdly hypocritical for the Trump administration to say that they support some sort of Glass Steagall Act but they simultaneously want to gut the entire purpose of the legislation.