July 2, 2010 -- As the new fiscal year begins for states and municipalities on July 1st, many are already on the verge of total breakdown. Two million unemployed lose their benefits this week, destitute of help from the Federal government, and are left to fend for themselves or get aid from the already bankrupt states. Meanwhile, Bailout Barney touts “the greatest financial reform since the Great Depression;” while on Wall St. celebrations are made, “this is a victory for us.”

The same day the Frankly-Dudd financial reform bill was introduced by Frank's conference committee, the Senate failed to approve $25 billion in additional Medicaid funding for states for the next year, causing losses of up to $1.3 billion in states budgets, as they scramble to cover the costs of the unexpected Medicaid shortfall. As unemployment rises, more people qualify for Medicaid, putting greater pressure on states, while tax income falls.

For example, in Lawrence, Massachusetts, twenty five police officers were laid off yesterday, as well as 85 other city workers, as the new budget takes effect. In Malden, Mass., the mayor has submitted $750,000 each in cuts for both the police and fire departments, which would result in layoffs of 10 police and 15 firefighters. In Maywood, Calif., the entire city workforce has been laid off, including police, to be outsourced to a neighboring city. As our cities disintegrate, the President and Congress fail to take action, acting instead to defend the corrupt financial interests that caused the collapse.

Where was Barney Frank while this was going on? Sources report that while the conference committee was meeting, Barney was holding private consultations with White House officials, including White House representative Dan Turton and Deputy Treasury Secretary Neil Wolin, to destroy Senator Lincoln's ban on derivatives, leaving 90% of derivative trading in place. Besides being a breach of separation of powers, this is a breach of responsibility for the citizens' welfare.

President Obama and leading members of Congress have made it clear, they intend to ignore the loudly-stated demands of the population, who are now fully in support of the revival of Glass-Steagall, and staunchly defend the corrupt, London-Wall St. parasites. This is essentially an act of war against the U.S. population.

We must rid the nation of it's London-directed enemies, including President Obama and Barney Frank. President Obama will act to prevent any solution, and must be forced out of office, in time for the solution to be adopted. We must enact Glass-Steagall legislation in the next weeks, to put the system through bankruptcy, so we can restore a real economy. The system is melting down now, the time to act is short.

--Rachel Brown