Wall Street Demands Derivatives Deregulation In Government Shutdown Bill

We need to stop lionizing the financial elite as people who deserve special consideration, special handling and special treatment. These Wall Street individuals are no different than the robber barons of the last century who were at the heart of it crooks, who only through determined philanthropy, were able to rehabilitate their reputations. Jamie Dimon, Llyod Blankenfein and the other denizens of Wall Street have each been at the heart of some type of financial fraud; be it the London whale scheme, fraudulent mortgage practices, interest rate manipulation or some other Ponzi type scheme, and to what end result? They do not pay fines, it is their investors who end up paying for their bad behavior and now with this latest nugget, they want to put the American taxpayer on the hook for more of their cockamamie scheming? The American public has already bailed them out once before, it is time that Americans cut the cord and we have to vehemently write those congressmen who are too closely tied to the finance industry such as Chuck Schumer. This is precisely why we need Elizabeth Warren, Bernie Sanders and Sherrod Brown. They understand and know that at the most fundamental level, our finance industry is way too large and powerful, it is disproportionate in size to everything else in America. Moreover the needs of Wall Street exist on another plane from the needs of the average American and our progressive senators understand that Wall Street and the wealthy have siphoned off all of the gains made by our impressive productivity and labor. I firmly believe that until labor retakes its rightful place at the table, the majority of Americans will continue to suffer from economic stagnation and frustration. I think that if we followed Elizabeth Warren’s recommendation which is to make banking boring once again, the tax code as uncomplicated as possible and regulations so clear cut as to circumvent any ambiguity; we would be seeing some radical changes in our economic circumstances and I would venture to argue that it would be for the better.
read the article:
http://www.huffingtonpost.com/2014/12/04/wall-street-government-shutdown_n_6272776.html

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