Friday, March 10, 2017

For Congressional Republicans, Wall Street Trumps Main Street

https://www.americanprogress.org/issues/economy/reports/2017/03/01/427165/for-congressional-republicans-wall-street-trumps-main-street/
"The GOP’s systematic dismantling of financial regulations by any means necessary—no matter how unprecedented or problematic—shows who is driving its agenda: Wall Street. If this agenda is successfully implemented, a return to Wall Street’s excessive risk taking and predatory practices is inevitable—and another financial crisis will be just around the corner. These efforts show a total disregard for lessons learned during the financial crisis and should scare everyone that suffered through hardships as a result—a lost job, foreclosed home, or lost savings. Now is not the time to wipe rules off the books. Now is the time to hone our protections; enforce our rules; and avoid the deregulatory mindset that caused the last financial crisis, which will almost certainly—unless unchecked—lead to another catastrophe."