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Join Occupy the SEC in Opposing Deregulatory Riders to the Omnibus Government Spending Bill

Public Comments (108)
  • May 8th, 2016
    Someone from Sammamish, WA signed.
  • May 7th, 2016
    Someone from Wiscasset, ME signed.
  • May 6th, 2016
    Someone from Cashiers, NC signed.
  • May 5th, 2016
    Someone from Murphysboro, IL signed.
  • Feb 15th, 2016
    Someone from Lafayette, CO writes:
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    I'm opposed to any omnibus bills and riders. Let them take on to digest one bill at a time. Let them sink in one item at a time and abort all financial incentives.
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  • Dec 19th, 2015
    Someone from Brooklyn, NY writes:
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    At a time of increasing vulnerability in the global economy - and for ordinary American workers and savers - demolishing the limited and inadequate protections for banking and retail investors we have is inexcusable. The American government should also acknowledge its extraordinary obligation to the people of Puerto Rico and the role it has played as a not-so-benign colonial overlord in weakening the territory and limiting its economic growth.
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  • Dec 19th, 2015
    Someone from Brooklyn, NY writes:
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    At a time if increasing vulnerability in the global economy - and for ordinary American workers and savers - demolishing the limited and inadequate protections we have is inexcusable. The American government should also acknowledge its extraordinary obligation to the people of Puerto Rico and the role it has played as a not-so-benign colonial overlord in weakening the territory and it's economic growth.
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  • Dec 16th, 2015
    Someone from Frankfort, IL signed.
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    Someone from Decatur, GA signed.
  • Dec 16th, 2015
    Someone from Los Angeles, CA signed.
  • Dec 16th, 2015
    Someone from Arlington, VA signed.
  • Dec 15th, 2015
    Someone from Sand Creek, WI signed.
  • Dec 15th, 2015
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  • Dec 14th, 2015
    Someone from Boca Raton, FL signed.
  • Dec 14th, 2015
    Someone from Manchester, CT signed.
  • Dec 14th, 2015
    Someone from Reno, NV signed.
  • Dec 14th, 2015
    Someone from Muncie, IN signed.
  • Dec 14th, 2015
    Someone from Chicago, IL signed.
  • Dec 14th, 2015
    Someone from Chicago, IL signed.
  • Dec 14th, 2015
    Someone from Madison, WI signed.
  • Dec 14th, 2015
    Someone from Madison, WI signed.
  • Dec 14th, 2015
    Someone from Bowling Green, OH signed.
  • Dec 14th, 2015
    Someone from Chicago, IL signed.
  • Dec 14th, 2015
    Someone from New York, NY signed.
  • Dec 14th, 2015
    Someone from Alexandria, VA signed.
  • Dec 14th, 2015
    Someone from High Rolls Mountain Park, NM writes:
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    Really . . . ! It's time for a serious re-evaluation of Capitalism, and our constitutional form of government.
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  • Dec 14th, 2015
    Someone from Chicago, IL signed.
  • Dec 14th, 2015
    Someone from Davis, CA writes:
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    This is important please work to help average investors
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  • Dec 14th, 2015
    Someone from Cambridge, MA signed.
  • Dec 14th, 2015
    Someone from Oakland, CA writes:
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    Courage - we are counting on you
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  • Dec 14th, 2015
    Someone from Las Cruces, NM signed.
  • Dec 14th, 2015
    Someone from San Jacinto, CA signed.
  • Dec 14th, 2015
    Someone from Reno, NV writes:
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    The multiplier effect of fractional reserve banking creates money. A fractional reserve system allows banks to keep a fraction of its deposits on hand for depositors use. That fraction tends to be set at less than 10%. The rest of deposits are loaned out as the economy requires. Banks make their money on the interest they charge on those loans. But each loan represents two simultaneous uses of that money. In other words, the velocity of money is increased. Theoretically, $100,000 in deposits with an 8% reserve requirement can create $1.25 million in additional deposits (or ((1/.08)*100,000))). That?s a theoretical number because the later loans will be so small that they?ll likely not be made. Nevertheless, that?s money that isn?t printed by the Treasury but that banks are allowed to create. The integrity of those loans must be very high to generate trust among depositors that they?ll be able to withdraw their money when they want to. Federally guaranteed deposit insurance backs up loan integrity and ultimately it is taxpayers who guarantee the whole system. So banking is not really a private business. It is in no way a restriction on the free market that there are regulations governing how banks use Other People?s Money. And Congress has the ultimate responsibility to ensure that the banking system is sound. I question whether small business is being squeezed by banking regulation when banks prefer to put deposits into derivatives rather than lend at home to businesses. Do you know that back during the S&L crisis, Congress allowed thrifts to use deposits to take ownership interests in various real estate projects? The thrift owned real estate and if it hit a home run reaped the profit. If it went bust, the FDIC and ultimately the taxpayer were on the hook. Congress really shirked its responsibility back than. They did again in repealing Glass-Steagel and allowing derivatives to go unregulated during the first decade of this century. The ignorance of the American public about how banking works allowed Congress to deregulate the financial system. Again, I say that you have an affirmative responsibility to regulate the banks. Banking is not strictly free enterprise. It is not overburdened with regulation.
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  • Dec 14th, 2015
    Someone from Hermitage, TN signed.
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  • Dec 14th, 2015
    Someone from New York, NY signed.
  • Dec 14th, 2015
    Someone from Philadelphia, PA writes:
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    With greed acceptable and profit all that matters we need regulation now more than ever.
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  • Dec 14th, 2015
    Someone from San Francisco, CA writes:
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    We are watching!
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