Hello 2015. Welcome to another year of post-Citizen United era of United States of America where the government still cares only about what corporate-humans does rather than the actual citizens, NYPD stopped what they are doing and flipped the bird to their mayor, and one Republican congressman finally came out as a white supremacist. Sort of.
This year will might be a different year than before, thanks to the congress now controlled by the radical right wingers under the corporate-financed Democratic president. Last month, the President Barack Obama passed the bi-partisan spending, known as "cromnibus bill" within the media, which includes reversing Dodd-Frank requirements to regulate big banks' financial activity.
To give you a clear and brief background: the whole purpose of Dodd-Frank act was to prevent another Great Depression right after financial crisis of 2007-2010. Since this financial reform law prevent big banks from gambling people's money, they would like to get this removed so Jaime Dimon, the CEO of JPMorgan Chase, telephoned Congressional Democrats to urged them to vote for the spending bill. Because of this, Elizabeth Warren, a Democratic Senator from Massachusetts and Wall Street's number one boogeyman, spoke out against it.
On that Christmas day, The Federal Reserves granted banks an extra year to comply with a key provision of the Volcker Rule, a move that gives financial lobbyists more time to kill the new regulation before it goes into effect. Which means, as I said before, banks can demand the government to guts the bank regulation, leading to another big national financial meltdown.
To give you more details on how much progressive politicians are against this, see the The Young Turks coverage of this below, and join Wolf-PAC as they encouraged.
This what happen when the big guys with big money have the loudest voice in the room (much like the last year), and we got to get these bribe money out of the government.
No comments:
Post a Comment