Letter: Reinstate Glass-Steagall legislation

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Wall Street apologist Sen. Amy Klobuchar’s justification for her 100-percent voting record for bailouts of Wall Street’s gambling debts is regularly defended as: “We had no choice, we were at the precipice.” In retrospect, the American people were not at the precipice — only Wall Street was hopelessly bankrupt. Shamelessly, Sen. Klobuchar chose to vote for Wall Street bailouts that now accumulate to trillions while all but ignoring her constituents. Consequently, America is now staring at the precipice, and Wall Street is still receiving endless bailouts.

Sen. Klobuchar and all the relevant bailout apologists are guilty participants in one of the most elaborate falsehoods ever sold to the American people. This falsehood was recently elaborated in a lengthy Rolling Stone article, “Secrets and Lies of the Bailout.”

The only remedy that will work is a new bill, H.R. 129, to reinstate Glass-Steagall that was just reintroduced in the 113th Congress. Amy, you and all your bailout apologists are now faced with a choice: Wall Street or the American people.

Tags: opinion, letters, politics