Campaign to Elect Christopher Young
401-477-6178
Admin@WhereToVote.com
http://www.WhereToVote.com
SENT: Monday, September 17th, 12:57 AM
PRESS RELEASE
FOR IMMEDIATE RELEASE:
Christopher Francis Young (D) Announced his Candidacy for the United States Senate in 2008.
PROVIDENCE, RI - On Thursday September 13th, 2007, democrat Christopher Francis Young announced his
candidacy for U.S. Senate in 2008 in front of the Debt house at 317 Sayles Avenue in Pawtucket , R.I. at 5:30 p.m.
The debt house, run by the Rhode Island Reform Party, keeps track of the National Debt and posts the National
Debt on the house. There was a complete media blackout of this event like other peace actions.
Young stated at the event, “The National debt has doubled from 4.5 trillion dollars in 2000 to $9,015,553,870,006
Trillion. This has doubled interest payments on the debt to over 2 billions dollars per day to the private banks of
the Federal Reserve, taking up most of the personal income tax and causing the American people to work four
months out of the year just to pay the interest on this debt. The Federal Reserve is not a federal agency, it is a
corporation made up of international bankers. This is the enslavement of the American people, slavery to
international bankers in the form of debt.”
Candidate Young received 11% of the vote for the United States Senate in 2006.
Chris spoke on the National debt including the issue of the Iraq and Afghanistan wars driving the debt up by 1
trillion dollars. Jack Reed has voted for funding the war.
Several individuals who have run for State or National Office gathered in front of the Debt house at 317 Sayles
Avenue in Pawtucket , R.I. , on Thursday September 13th, including Rod Driver to discuss State and National
Issues that are of great concern. Rod Driver stated, “I support immediate withdrawal from Iraq .” Rod Driver also
stated, “Jack Reed has funded the Iraq War from the beginning…. He’s just like Bush when it comes to his
military service.” Indicating Reed’s recent support to end the war is a false representation and only comes after
70% of the American people now oppose the war. Reed and Bush share in their lack of actual combat
experience. Reed has recently voiced his support for troop deployment that will only come by a draft, in the event
Bush invades Iran next.
Young’s speech also stated, “International bankers use communism, terrorism, race, wealth, and class to make
war so that they can profit by increasing a countries debt to fund these wars. The U.S dollar has recently hit a low
against the Euro. We fought to remove ourselves from the central bank system when we declared independence
from England during the revolutionary war.
Over 20 years of non stop lobbying from the financial industry hit the jackpot with the repeal of the Glass-Steagall
Act in 1999; it was passed by Congress following the 1929 stock market crash. Glass-Steagall was written to limit
the conflicts of interest when commercial banks are permitted to underwrite stocks or bonds.
The international bankers whittled away at Glass-Steagall for years before finally breaking down its regulatory
restrictions in August 1987, when Alan Greenspan, formerly a director of J.P. Morgan and a proponent of banking
deregulation, became chairman of the Federal Reserve Board.
In 1990, J.P. Morgan became the first bank to receive permission from the Federal Reserve to underwrite
securities. They could do this so long as its underwriting business does not exceed the 10 percent limit. In
December 1996, with the support of Chairman Alan Greenspan, the Federal Reserve Board issued a precedent-
shattering decision permitting bank holding companies to own investment bank affiliates with up to 25 percent of
their business in securities underwriting ending the 10% cap.
In 1999, after 25 years and $300 million of lobbying efforts, Congress, aided by President Bill Clinton, finally
repealed Glass-Steagall. This is three years after John 'Jack' Reed was first elected in 1996 and no corrective
action was implemented by ‘Jack’ Reed.
This paved the way for the problems we are now facing including the banking crisis which is no longer one of
liquidity, but of deteriorating credit worthiness system-wide. This also includes the flight of investors from money
market funds, many of which are backed by Mortgage-backed Securities (MBS). In addition to the collapse in the
housing market and the deterioration in mortgage-backed bonds (CDOs). Banks worldwide now reportedly face
risk exposure of US$891 billion in asset-backed commercial paper facilities (ABCP) due to callable bank credit
agreements with borrowers designed to ensure ABCP investors are paid back when the short-term debt matures,
even if banks cannot sell new ABCP on behalf of the issuing companies to roll over the matured debt because the
market views the assets behind the paper as of uncertain market value. This means that the trillions of dollars
which have been leveraged against these shaky assets, in the form of credit default swaps (CDSs) and
numerous other bizarre-sounding derivatives, will begin to cascade down wiping out trillions in market value.
It was Jack Reed who was our Congressional representative while all this was happening. Jack Reed refuses to
write legislation to protect Rhode Islanders in this debt crisis, and especially refuses to write debt relief
legislation to protect college students by reinstituting a 10 year statute of limitations on student loan debt that
ended in 1991 (elimination of the student loan collection statute of limitations in 20 U.S.C. Section 1091a(a)(1)).
Also, he refuses to reinstitute bankruptcy protections for students and home owners that were ended by both Bill
Clinton in 1996 and George Bush in 2003. Reed does not represent the will of the people.
Greenspan and Reed presided over the greatest expansion of speculative finance in history, including a trillion-
dollar hedge-fund industry, bloated Wall Street-firm balance sheets approaching $2 trillion, a $3.3 trillion repo
(repurchase agreement) market, and a global derivatives market with notional values surpassing an
unfathomable $220 trillion.
In the past 18-years, assets of US government-sponsored enterprises (GSEs) ballooned 830 percent, from $346
billion to $2.872 trillion. GSEs are financing entities created by the US Congress to fund subsidized loans to
certain groups of borrowers such as middle- and low-income homeowners, farmers etc. Agency mortgage-
backed securities (MBSs) surged 670 percent to $3.55 trillion. Outstanding asset-backed securities (ABSs)
exploded from $75 billion to more than $2.7 trillion.”
At the press conference Young also reiterated his positions on the following issues, stating:
“I oppose our government’s new power to search our homes without a warrant.
I oppose the North American Union, and globalization.
I oppose Jack Reed’s membership in the Council on Foreign Relations which is a globalist organization that
supports ending nation state sovereignty. I oppose the C.F.R’s plan to end America ’s national sovereignty as
well as ending the United States constitution and Bill of Rights.
I oppose a draft.
I oppose going to war with Iran.
I support immediate withdrawl from Iraq
I oppose the death's of over 1.2 million Iraq's in this war.
I support funding for education and debt relief and the reinstituting a federal statute of limitations on debt.
I support federal rate control over the price of gasoline.
I support Election Reform.
I support ending the Federal Reserve.
I support Bush’s impeachment.
These issues require a change in outlook, a change in tactics, and a change in missions--by the government, by
the people, by every businessman or labor leader, and by every newspaper and television news station.”
401-477-6178
Admin@WhereToVote.com
http://www.WhereToVote.com
SENT: Monday, September 17th, 12:57 AM
PRESS RELEASE
FOR IMMEDIATE RELEASE:
Christopher Francis Young (D) Announced his Candidacy for the United States Senate in 2008.
PROVIDENCE, RI - On Thursday September 13th, 2007, democrat Christopher Francis Young announced his
candidacy for U.S. Senate in 2008 in front of the Debt house at 317 Sayles Avenue in Pawtucket , R.I. at 5:30 p.m.
The debt house, run by the Rhode Island Reform Party, keeps track of the National Debt and posts the National
Debt on the house. There was a complete media blackout of this event like other peace actions.
Young stated at the event, “The National debt has doubled from 4.5 trillion dollars in 2000 to $9,015,553,870,006
Trillion. This has doubled interest payments on the debt to over 2 billions dollars per day to the private banks of
the Federal Reserve, taking up most of the personal income tax and causing the American people to work four
months out of the year just to pay the interest on this debt. The Federal Reserve is not a federal agency, it is a
corporation made up of international bankers. This is the enslavement of the American people, slavery to
international bankers in the form of debt.”
Candidate Young received 11% of the vote for the United States Senate in 2006.
Chris spoke on the National debt including the issue of the Iraq and Afghanistan wars driving the debt up by 1
trillion dollars. Jack Reed has voted for funding the war.
Several individuals who have run for State or National Office gathered in front of the Debt house at 317 Sayles
Avenue in Pawtucket , R.I. , on Thursday September 13th, including Rod Driver to discuss State and National
Issues that are of great concern. Rod Driver stated, “I support immediate withdrawal from Iraq .” Rod Driver also
stated, “Jack Reed has funded the Iraq War from the beginning…. He’s just like Bush when it comes to his
military service.” Indicating Reed’s recent support to end the war is a false representation and only comes after
70% of the American people now oppose the war. Reed and Bush share in their lack of actual combat
experience. Reed has recently voiced his support for troop deployment that will only come by a draft, in the event
Bush invades Iran next.
Young’s speech also stated, “International bankers use communism, terrorism, race, wealth, and class to make
war so that they can profit by increasing a countries debt to fund these wars. The U.S dollar has recently hit a low
against the Euro. We fought to remove ourselves from the central bank system when we declared independence
from England during the revolutionary war.
Over 20 years of non stop lobbying from the financial industry hit the jackpot with the repeal of the Glass-Steagall
Act in 1999; it was passed by Congress following the 1929 stock market crash. Glass-Steagall was written to limit
the conflicts of interest when commercial banks are permitted to underwrite stocks or bonds.
The international bankers whittled away at Glass-Steagall for years before finally breaking down its regulatory
restrictions in August 1987, when Alan Greenspan, formerly a director of J.P. Morgan and a proponent of banking
deregulation, became chairman of the Federal Reserve Board.
In 1990, J.P. Morgan became the first bank to receive permission from the Federal Reserve to underwrite
securities. They could do this so long as its underwriting business does not exceed the 10 percent limit. In
December 1996, with the support of Chairman Alan Greenspan, the Federal Reserve Board issued a precedent-
shattering decision permitting bank holding companies to own investment bank affiliates with up to 25 percent of
their business in securities underwriting ending the 10% cap.
In 1999, after 25 years and $300 million of lobbying efforts, Congress, aided by President Bill Clinton, finally
repealed Glass-Steagall. This is three years after John 'Jack' Reed was first elected in 1996 and no corrective
action was implemented by ‘Jack’ Reed.
This paved the way for the problems we are now facing including the banking crisis which is no longer one of
liquidity, but of deteriorating credit worthiness system-wide. This also includes the flight of investors from money
market funds, many of which are backed by Mortgage-backed Securities (MBS). In addition to the collapse in the
housing market and the deterioration in mortgage-backed bonds (CDOs). Banks worldwide now reportedly face
risk exposure of US$891 billion in asset-backed commercial paper facilities (ABCP) due to callable bank credit
agreements with borrowers designed to ensure ABCP investors are paid back when the short-term debt matures,
even if banks cannot sell new ABCP on behalf of the issuing companies to roll over the matured debt because the
market views the assets behind the paper as of uncertain market value. This means that the trillions of dollars
which have been leveraged against these shaky assets, in the form of credit default swaps (CDSs) and
numerous other bizarre-sounding derivatives, will begin to cascade down wiping out trillions in market value.
It was Jack Reed who was our Congressional representative while all this was happening. Jack Reed refuses to
write legislation to protect Rhode Islanders in this debt crisis, and especially refuses to write debt relief
legislation to protect college students by reinstituting a 10 year statute of limitations on student loan debt that
ended in 1991 (elimination of the student loan collection statute of limitations in 20 U.S.C. Section 1091a(a)(1)).
Also, he refuses to reinstitute bankruptcy protections for students and home owners that were ended by both Bill
Clinton in 1996 and George Bush in 2003. Reed does not represent the will of the people.
Greenspan and Reed presided over the greatest expansion of speculative finance in history, including a trillion-
dollar hedge-fund industry, bloated Wall Street-firm balance sheets approaching $2 trillion, a $3.3 trillion repo
(repurchase agreement) market, and a global derivatives market with notional values surpassing an
unfathomable $220 trillion.
In the past 18-years, assets of US government-sponsored enterprises (GSEs) ballooned 830 percent, from $346
billion to $2.872 trillion. GSEs are financing entities created by the US Congress to fund subsidized loans to
certain groups of borrowers such as middle- and low-income homeowners, farmers etc. Agency mortgage-
backed securities (MBSs) surged 670 percent to $3.55 trillion. Outstanding asset-backed securities (ABSs)
exploded from $75 billion to more than $2.7 trillion.”
At the press conference Young also reiterated his positions on the following issues, stating:
“I oppose our government’s new power to search our homes without a warrant.
I oppose the North American Union, and globalization.
I oppose Jack Reed’s membership in the Council on Foreign Relations which is a globalist organization that
supports ending nation state sovereignty. I oppose the C.F.R’s plan to end America ’s national sovereignty as
well as ending the United States constitution and Bill of Rights.
I oppose a draft.
I oppose going to war with Iran.
I support immediate withdrawl from Iraq
I oppose the death's of over 1.2 million Iraq's in this war.
I support funding for education and debt relief and the reinstituting a federal statute of limitations on debt.
I support federal rate control over the price of gasoline.
I support Election Reform.
I support ending the Federal Reserve.
I support Bush’s impeachment.
These issues require a change in outlook, a change in tactics, and a change in missions--by the government, by
the people, by every businessman or labor leader, and by every newspaper and television news station.”
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without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.
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from the copyright owner.
This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. I am
making such material available in my efforts to advance understanding of environmental, political, human rights, economic,
democracy, scientific, and social justice issues, etc. I believe this constitutes a 'fair use' of any such copyrighted material as provided
for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed
without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.
If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission
from the copyright owner.
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