Friday, November 05, 2010

Mid-Term Elections: Banks And Wall Street Win, You Lose….


and this time I think that the American voter deserves what he has coming to him. that will be less regulation of the banks and even less regulation of Wall Street once the lobbyist have convinced the Republicans that such things as derivatives need not be traded on exchanges, as his been suggested. you can pretty much kiss the current reform legislation good by so far as Wall Street and the banks are concerned.

    It has been suggested that to many regulations would cost the American people jobs.  Remember that derivatives had been  traded previously without any oversight and that that was part of the reason for our current financial problems.

    The Republicans also don’t much care for the Consumer Protection Agency either, so you can expect an attempt at de-funding this Republican pain in the side. This is in regards to financial products,and other issues.

   We lose people! I guess that the voters in this country are somewhat short on memory when it comes to who has screwed them the most. Remember former resident George Bush? This will be worse for you this time around. Once again, it is all about business getting the key to the kingdom, and you getting the shaft! Please enjoy what you have earned.

Watching America

Likewise, Republicans have long considered Obama’s Consumer Protection Agency for financial products a thorn in the side. It is intended to protect consumers from financial damage due to predatory credit card and mortgage practices. But Republicans fear that it might lead to stricter controls on financial institutions. Experts assume the agency will be under-funded by a Republican controlled House and thus find it impossible to carry out its mission.