Bank Lobby Threatens ‘Great Taking’ Author: “Only You Can Save Yourself Now”
“The banking lobby is a bully, and they threaten people,” says David Webb, author of The Great Taking book and documentary. In this exclusive interview with Daniela Cambone, Webb shares a challenging update on the ongoing legal battle to change Article 8 of the Uniform Commercial Code. Webb argues that investors do not truly own their securities under the current financial system.”You have an appearance of ownership… but it does not work like ownership if your broker fails or if there’s a failure at a higher level within the financial system.” Despite some success in committees, Webb admits he often faces defeat on the legislative floor due to strong opposition from the banking lobby. He calls on every citizen to take action, insisting that collective pressure is key to challenging the status quo.
The Fight Against the Banking Lobby
The financial industry is not built to protect your wealth—it is structured to control it. Webb and his legal team have been pushing for legislative changes to strike key exemptions in Article 8 of the UCC, which currently gives secured creditors the first claim to assets in the event of insolvency. This means that if your broker fails, you have no legal right to recover your own securities.
Despite significant public awareness of this issue, the banking lobby has fought tooth and nail to prevent any reform. With deep pockets and strategic political influence, they have successfully manipulated legislators to maintain their control over financial assets. Banks are bullies, and they exert their power through misinformation, lobbying, and fear tactics to ensure the laws work in their favor—not yours.
How Banks Manipulate the System
David Rogers Webb outlines several key misleading arguments used by banking lobbyists to maintain the status quo:
- “Investors Have Priority” – False
- The law may state that investors have priority over their securities, except when their intermediary (broker) goes bankrupt—which is precisely when it matters most.
- “These Rules Are Necessary for Electronic Trading” – False
- Electronic trading existed for decades before these legal exemptions were implemented. These laws were not created out of necessity, but rather as a strategic move to concentrate control within financial institutions.
- “No One Lost Assets in the Lehman Brothers Collapse” – False
- While banking lobbyists claim that no customers suffered losses in past financial failures, court records from the Lehman Brothers bankruptcy prove otherwise.
- “Banks Cannot Use Investor Assets Without Permission” – False
- The legal code contains an exception allowing financial institutions to use investor securities without direct approval—despite what lobbyists claim.
The Power of the Banking Lobby in Politics
The failure of reform efforts in South Dakota, Wyoming, and Tennessee exposes a harsh truth: money talks in politics. Legislators are often unprepared to challenge the financial sector’s legal experts and lobbyists. Banking lobbyists prey on ignorance, ensuring politicians remain misinformed about the real impact of these laws.
Webb and his team have defeated the banking lobby in some committee hearings, but when it comes to final votes, the financial industry leans on its political connections to ensure legislation is blocked. Without public action, these battles are almost impossible to win.
What You Can Do to Protect Your Wealth
The fight against the banking lobby cannot be won by a handful of experts alone. The most shocking revelation from Webb’s campaign is that, despite millions being aware of the issue, only a handful of citizens have actively shown up to support financial reform.
If you care about protecting your investments from the grasp of big banks, you must take action. Here’s how:
- Educate Yourself & Others – Learn about Article 8 of the UCC and share this knowledge with others in your network.
- Contact Your State Representatives – Demand that your legislators review these laws and push for reforms that restore investor rights.
- Attend Legislative Hearings – Banks win by ensuring that no one challenges them at hearings. Simply showing up and voicing your concerns can make a massive difference.
- Move Toward Tangible Assets – The less exposure you have to a system designed to trap investors, the better. Gold and silver remain some of the most reliable stores of value in uncertain times.
As Daniela Cambone pointed out in the discussion, this is a battle for financial freedom. The financial system is stacked against individual investors, and unless people personally engage in the fight, the banking lobby will continue to dictate the rules.
If you want to take control of your financial future, start by recognizing the truth: banks are bullies—and they count on your inaction to maintain their control. It’s time to prove them wrong.
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