by Feed your head with a play by Pamela Olson

Created on: March 03, 2009

Corporationism Rules Or The Dog Gets It
The fallout from the economic melt down from the Gramm-Leach-Bliley Act again proves how heads of business, & the Republican & Democratic parties, are a daisy chain of pimps, johns, & whores.

Communism and socialism are for the benefit of individuals. Fascism is for the benefit of government. Therefore, it wasn't communism or socialism or even fascism that brought this economic meltdown. It was what I call corporationism. Corporationism is for the benefit of the corporate heads and those politicians they can lobby/pay to do their selfish bidding. The most devastating example of their selfish bidding was the

U.S. Gramm-Leach-Bliley Act (GLB), enacted in 1999. GLB was also known by its spurious doublespeak, the Financial Services Modernization Act. Being doublespeak, its modernizing claim was, of course, phony. GLB's real intent was to take American banks back to rules operated under in the 1920's. Rules then that all parties later blamed for leading directly to the Great Depression, which resulted in the U.S. 1933 Glass-Steagall Act to prevent such ever happening again.

Corporationism had arrived in America as the 1999 Gramm-Leach-Bliley Act dismantled sixty-six years of the proven success of the 1933 Glass-Steagall Act. GLB again allowed banks in the insurance and investment business, and banks to hold non-financial companies, all corporate behavior previously proven to be the most dangerous to an economy. That doozie of banks can again hold non-financial companies was a repeal of part of the U.S. 1956 Bank Holding Company Act. Banks could again, and did, just on a whim no safe financial reality required, underwrite stocks and bonds, and bring back one-stop shopping. Which bank heads were doing even before GLB was passed that's how certain the bank's heads were of the politicians they had bought and paid to get GLB passed. The result of the Gramm-Leach-Bliley Act was the required return of conflicts of interest for banks. That meant heads of bank again sought only the quarterly profits of their banks. Bank heads again became de facto domestic economic terrorists with agendas at odds with the shareholders of their bank, investors, clients, customers, America, for that matter, any country's interests, and the environment. GLB made it legal for the corporate welfare queens to privatize all their profits and nationalize all their debt. It took the heads of the bank less than ten years to do exactly that. It was the

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