Monday, March 31, 2014

A musical ode to financial manipulation

If Congress would only restore the Steagall-Glass Act, which separated the FDIC-insured money of depositors from the high-stakes, high-flying money that hedge funds and investment bankers play with, this performance would not be necessary.

A few notes:

• If you slow this performers down and take careful note of every word, you’ll find that the technical descriptions are just about perfect.

• There once was a time when banks could never be too big to fail because each bank was limited to operations in one state. No longer.

• How to stop the financial thugs throwing the equivalent of knives at us to see who can miss by the least? This can be done either through restoration of the Steagall – Glass Act, or restoration of now repealed prohibitions against Interstate banking, or preferably both. But this would be what the Republicans call “Needless, job-kiling government intervention with the free market.” Draw your own conclusion about Republicans.

• The performers in this video work under the unfortunately klunky name, Fascinating Aida. They're clever enough to think of better. Nevertheless, I wish some enterprising Broadway producer would bring these three over to the United States for a limited run on Broadway. They’d be a smash hit. I’ve displayed one of their performances previously, in a piece explaining how consumers are getting nickeled and dimed. (Go here, and scroll down to the end.)


Patricia said...

I would totally go see that! At least I would get a real return for my money! Glass-Steagle worked! I can't remember a time when it was in effect that there was this big of an unemployment problem. Plenty of job creators created plenty of jobs, unlike now. Thanks for the entertainment!

Comrade Misfit said...

Can I invest in guillotine futures?

The New York Crank said...

Guillotine futures? Doubtful. But comes the revolution, you'll probably be able to scalp first row seats.

Crankily yours,
The New York Crank