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Wall Street Deregulation Is All About the Money


#1

Wall Street Deregulation Is All About the Money

Robert Weissman

The U.S. Senate likely will pass a major Wall Street deregulation bill this week with Democratic support. It’s a package that reduces safeguards for two dozen of the three dozen largest banks, enables smaller banks to speculate with deposits, severs important consumer safeguards and more.

"Creating banking law under the influence of campaign contributions leads directly to crises that have visceral impacts on millions of Americans."


#2

Yes. And since the DLC takeover of the nominally lib/prog Dem Party, deregulation has been a central BIPARTISAN project. And of course it gos further back, e.g. Teddy Kennedy and trucking deregulation in the 1970s, Allan Greenspan, etc., etc. etc., ad nauseam.

Capitalism is what capitalism does…

PS: U.S. voters and “polls” in the U.S. are irrelevant until we collectively behave extremely differently and build a critical mass to represent outr actual interests.


#3

Yes. And since the DLC takeover of the nominally lib/prog Dem Party, deregulation has been a central BIPARTISAN project. And of course it gos further back, e.g. Teddy Kennedy and trucking deregulation, Allan Greenspan, etc., etc. etc., ad nauseam. Capitalism is what capitalism does…


#4

Want a high return on investment? Buy an American politician.


#5

This is incredible, Jones from AL. has been there maybe a month, and he’s already received 3/4’s of a million.
We have no chance if we can’t get money out of politics.


#6

This country was bought and sold a long time ago. Stop banging your collective heads against the
wall. Both political parties are beyond saving. Nature will bring this barbaric and primitive civilization back into harmony. Capitalism is leaving the United States. Take care of yourselves and loved ones.


#7

sorry for the repetition


#8

Yes the final stages of Capitalism will be brutal and many will not survive it’s demise. Many that do might regret doing so. I see a very Orwellian future ahead…


#9

I was disgusted to learn that the lone Democrat US Senator from my state, Jon Tester, supports this bill, even though he’s made many speeches denouncing the Citizens United SCOTUS decision and the general “…pay-to-play.corruption…” of US politics.
His staff spokespersons are now informally defending Tester’s hypocritical position with gobbledegook rationalizations like: Jon’s been targeted as an easy knock-off in Purple Montana by national rightwing Dark & Huge Money sources, and he’s therefore likely to lose his upcoming re-election campaign due to insufficient campaign funds – so he has no choice in this case but to carefully choose which campaign donors he can and can’t afford to alienate…
FWIW: While I can’t agree with such an absurd rationalization, and will probably never again vote for Tester, I never heretofore knew him to be anything but the progressively smart, occasionally politically agile, but always finally home-down-honest MT farmer that he bills himself as.
Here, Tester’s not ‘sensibly compromising’ but instead rankly selling-out core progressive principles toward no believably-useful endpoint.
Jonnie, I hope you’ll change your mind…!
But if not, then it’s time for you to step aside. <><><>


#10

Anybody continuing to be surprised that Trump won in 2016 ?


#11

Sad to say it, but this demonstrates that there are no significant differences between the 2 parties.


#12

Yes we have no more money for you. Come hell or high water I’m going to be re-elected. It’s the American way and nobody can defeat me, na na na na na.


#13

Easy to solve. Take your money away from the big banks and investment companies. If you aren’t willing to do that then you deserve what’s coming.