Republican Push To Restore Fraudulent Banking

headshot

Time for another big spending bill to keep the Federal Government up and running, meaning it’s time once again for the Republicans to threaten a shutdown.    Maybe.   I mean, even if they haven’t issued the threat yet, you have to think they will.   It’s what they do.

This time, they’ve snuck a nasty little provision into the bill that would remove safeguards against another economic crash.

Following the crash of 08, the feds told the big bankers that they could no longer gamble with the taxpayer’s money by selling worthless junk (derivatives trading) fraudulently labeled as valuable assets (remember the bundled sub-prime loans?) and then expect the American people to bail them out with federal insurance when their junk is revealed to be worthless, the market crashes and the world is threatened by economic ruin by the “too big to fail” banks.

Remember all of that?  Well, the Republicans want to do away with the safeguards and let the federally insured gambling start all over again.    You might call it federally sanctioned criminal activity.

The Democrats are demanding that the provision be stripped from the bill so we’ll see where this goes.   At the very least, this should be a wakeup call for any and all of you who still believe there is essentially no difference between the Democratic and Republican parties.

We continue to have the best government money can buy, but the Dems aren’t quite so bought off as are the Republicans.

The country badly needs contemporary patriots like Elizabeth Warren leading the charge to better control the flow of money into politics with an end-game of reclaiming our lost democratic process.

Leave a Reply

Your email address will not be published.