Senator Dorgan: “We Essentially Have Had Modern-Day Bank Robbers … and There’s Been No Accountability … There’s No Question the System Is Rigged”

Senator Byron Dorgan has some harsh words for the too big to fails:

It’s one of the most frustrating things. We essentially have had modern-day bank robbers — except that they wore gray suits and not masks — and there’s been no accountability for it …

Every day we see energy speculators, war profiteers, managed health-care providers, media propagandists, and/or financiers given some unfair advantage over the average consumers and taxpayers, and the cumulative effect of the American people watching selfishness prevail over the public interest has been an undermining of the public’s trust in government.

This “anything goes” approach to capitalism has injured the very economy we have aspired to create.

I’m a big fan of the free-market system…This is not about a liberal or conservative philosophy. It is about making sure our economy and the free-market system work for everybody…

There’s no question the system is rigged against the little guy. The bigger interests have a lot more information. They jerry-rig the system so that they always win.

Dorgan said 3 things are needed to fix the financial system:

One is to separate investment banks and FDIC-insured banks. Second, prohibit FDIC-insured banks from dealing in risky financial instruments on their own proprietary accounts… And third, abolish “too big to fail.” If you’re too big to fail, you’re too big. Too big to fail is what I call no-fault capitalism.

Senator Dorgan was one of eight senators who stood up to oppose the repeal of the Glass-Steagall act in 1999, and said at the time:

I think we will in 10 years’ time look back and say we should not have done this.

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  • http://www.blogger.com/profile/17579106514981674979 Daniel Edd Bland III

    I was raised on Dr. Dobson, and have just sent him a letter requesting his assistance to help me stop loosing faith in the Christian Church. My Mom respects Dr. Dobson as much or more than any other Christian leader, and she is interested to see his response. I only started learning the truth about the 9/11 attacks last fall. It took me an entire year to convince my own parents to listen to me, and begin reviewing the evidence for themselves. Now that they have thoroughly and objectively taken a fresh look into all the available evidence, they too are now aware of how badly we have been deceived. They now fully support my mission to find out what really happened to 2,993 of our fellow countrymen that fateful September morning. My mom is very interested to see if/how Dr. Dobson will respond. Please read my open letter to Dr. Dobson and share your thoughts at………http://blandyland.com/?p=459Does Christ's Church really stand for TRUTH & JUSTICE? That is the question!Daniel Edd Bland IIIwww.BlandyLand.com

  • http://Anonymousnoreply@blogger.com Anonymous

    It's funny that Senator Dorgan talks about "bank robbers" when his little Dorganomics has been robbing North Dakota and the tax payer for years. I found a fiscal conservative finally in a sea of Rhinos. Mr. Paul Sorum of Fargo is gaining momentum against Senator Dorgan. He is a real leader and he gets it when it comes to out of control spending. Mr. Dorgan, who doesn't live in North Dakota by the way, clearly does not. I'm voting Sorum in 2010. No more Dorganomics.

 

 

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