Investigative Author Links the Healthcare Crisis and the Banking Debacle: A Disaster in the Making
James R. Goldberg, Author of “The American Medical Money Machine,” releases a statement through his publisher: “Can a Sick Nation Defend Itself? Can We Afford Another Banking Plague?” New York, New York (PRWEB) July 31, 2012 In a July 31, 2012 press release, author and investigative journalist James R. Goldberg, reminds the public that in recent years, US banks were given billions of dollars to stimulate the economy. He claims, “But they broke their promise. Instead of injecting these funds into the economy, they continued to speculate both with depositor and Federal funds. The result has only brought the country joblessness and hopelessness.” The banking industry was deregulated by the Gramm-Leach-Bliley Act in 1999 under President Bill Clinton. This legislation overturned the emergency Banking Act of 1933, commonly known as the Glass–Steagal Act, designed to rein in banks from engaging in speculative ventures, to provide consumer protection and to insure the safety of the nation’s financial system. “When Glass was repealed, a speculative domino effect wiped out the world monetary system’s integrity. Are we now creating a similar scenario whereby mandated Read more text