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Discussion: H.R. 1489, The Return to Prudent Banking Act of 2011
- This item is from the 112th Congress (2011-2012) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
Revision History 
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Costs: $ per
and increases their $ share of the national debt by $.
(source: National Taxpayers Union Foundation)
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Visitor Comments
Ernest Sandoval
April 13, 2011, 1:29pm (report abuse)This Bill is vitally needed. It could be argued that if the Banking Act of 1933 had been in effect, this crisis could have been avoided. It could also prevent another from occurring.
Guiseppe
April 13, 2011, 5:23pm (report abuse)This bill has always been needed but more so now with the GOP trying desperately to defund the government agencies charged with oversight of the financial market. We Americans that became the real victims of the financial crisis need to make sure each of our congressmen and Senators Pass this bill as they were the ones that passed the "bill" for the crisis on to us and our children!!!
Kylie
April 13, 2011, 11:34pm (report abuse)Nothing is more important than the passage of this bill. Those who are against the passage of this bill are against the United States of America.
America Minds
April 14, 2011, 6:37pm (report abuse)First, comment from Guiseppe bring up the GOP. The G/L act of 1933 was repealed late 1999 as one of the lasts acts by Clinton.
Clinto lobbied heavy for the repeal with presure from City Bank (now Citi Group)
I am a conservitive. But the removal of GL was the biggest contributor to the financial calapse.
This is not a GOP or Dem issue. This is a matter of keeping those in charge of mutiples of trillion dollars in check.
When you are the leader of the world, and the world economy invests in a nation, such as America, only to be ripped off, investments go away.
You can discuss more at America Minds. com
David Miller
April 16, 2011, 3:18pm (report abuse)Without this new legislation in place we will never recover from the depression we are currently in. Wall Street must be reformed for real this time or we will pay dearly for inaction or delay.
Jason Williams
June 14, 2011, 2:55pm (report abuse)Congress must pass this bill!!!!! Call your rep. and demand that they fight for this!! This is the only thing that can save this nation.
tk
June 24, 2011, 10:39pm (report abuse)THis does nothing and makes everything worst. It is amazing how so many do not understand economics nor history. What needs to happen is to mandate 100% reserves, eliminate fiat currency, exchange interest for fees, and give ownership rights to deposits so that banks cannot speculate with other people money.
BJ
July 16, 2011, 8:46pm (report abuse)TK You are absolutly right and while you are at it you should make compound interest Illegal. Imagine the stretch of the economy if every homeowner could pay off thier mortgage and credit cards in a reasonable lenth of time and not be raped by interest rates.
Dave - StillFree
October 16, 2011, 9:28am (report abuse)The repeal of Glass Steagall in the late 90's was a mistake. It's also a mistake to keep Fannie and Freddie alive. No taxpayer should be forced to guarantee a banker's mistakes. If Barney Frank doesn't "get" that he should go to jail along with his fat cat buddy Franklin Raines.
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