Fact Checking

Was this act the financial downfall for the United States?

The Glass-Steagall Act, also known as the Banking Act, was enacted in 1933, which established bank reforms and FDIC, Federal Deposit Insurance Corporation. This act prohibited banks from engaging in the investment business.

This act was an emergency response mechanism that was put in place because of the multitude of bank failure that occurred during the great depression. Some legislation thought that the act wasn't necessary, so in 1998 the act was repealed.

Many believe that by the repealing of this act, large investment banks were able to make ties within the government.

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The assumption that Al Gore's claims to being the founder and inventor of the internet were stated on the late night, David Letterman show. This is an excerpt from Wikipedia.

"Remember America, I gave you the internet, and I can take it away!"

The truth, the internet was not invented by Al Gore, it was invented by a group of researchers from the Advanced Research Projects Agency in the 1950s.

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For the issue of carbon tax, I visited the House Legislation website and searched for carbon tax. Many different links came up, but I wasn't able to access any of them...

Under S.15 on January 25,2011, the Senate passed a bill prohibiting the regulation of carbon dioxide emissions. But the catch is, that they won't be enforcing these reductions until China, Russia, and India have reductions to their carbon dioxide emissions.

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