Pam Martens: President Trump Should Press To Restore Glass-Steagall After Taking the Oath of Office
Jan. 3, 2017 (EIRNS)—As the U.S. Congress convened today, financial writer Pam Martens posted an article (wallstreetonparade.com) calling on Donald Trump to act on restoring Glass-Steagall from day one as president. Martens first summarizes the highlights of a recent Office of Financial Research (OFR) report, which revealed that U.S. banks have more than $2 trillion in exposure to many near-bankrupt European banks, then she concludes:
"President-elect Donald Trump and his closest advisers should make it their top priority to read this OFR report carefully, reflect on the current and future ramifications of the reckless and irresponsible U.S. banking model on its citizens and economy at large, and immediately begin to press Congress for the restoration of the Glass-Steagall Act upon his swearing in on January 20."
The Martens article is titled, "U.S. Quietly Drops Bombshell: Wall Street Banks Have $2 Trillion European Exposure."