A few days ago the House of Representatives passed a very bad bill. The 1600-page bill funds the government throughout the middle of next year.
It also loosens the banking regulations that were put in place to prevent crises like the one in 2008. How is it that Congress can kiss up to Wall Street but not extend unemployment benefits? How is it that Citibank gets a break, but not Wal-Mart workers? Why would House Democrats vote for a bill will allow individuals to donate more millions in campaign contributions?
The bill was touted as a compromise. Here is what compromise means in Washington. The Democrats roll over.
I am pleased to say that my Congressman, Matt Cartwright, did not roll over. He voted against the bill. Thank you, Rep. Cartwright.
Pensions that are supposedly guaranteed by the PBGC will also be affected. I'm expecting the worse.
ReplyDeleteI read that banks want to lower the mortgage downpayment to 3% from the current 5% and will be allowed derivitives trading. Here comes 2008 all over again. The taxpayers will be picking up the tab for more failed banks. I think Thom Harman's book "The Crash of 2016" is about to come a reality.
Its all part of the GOP plan to have the economy crash do that they can win the White house in 2016.
ReplyDeleteIt is truly amazing how the same mistakes are repeated.
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