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Archive for August 10th, 2017

The Wall Street Journal reported a few days ago that the Securities Exchange Commission (SEC) has significantly reduced the number of regulations it is supposed to enforce. Quite naturally, as was shown in 1929, 2007-09, 2001, the entire 1980s and 1990s, as well as many other times in US and world history, Wall Street millionaires and billionaires will break the law while redistributing income from the 99 percent to themselves. Then the taxpayers (that’s us folks) will bail them out after the financial disaster, and this will make the rich even richer, and not a soul will go to jail.

The Journal reports that Trump’s appointees to the SEC have significantly slowed down on enforcement. Trump, along with every Republican office holder in the US congress, wants to eliminate the weak Dodd-Frank legislation that makes it a little bit harder than before to screw over the US public.

The Republicans chief economic policy is to unleash Wall Street as a destructive force in the world, allow it to wreck financial on everybody else, in order to knock the economy flat on its face. That is the Republican Party economic policy in a nutshell.

Of course, the Republicans have always had help from the Democratic Party, which is largely, if not completely, controlled by Wall Street billionaires. Many Democrats have been instrumental in helping the Republicans achieve the desires of their Wall Street masters. President Clinton signed legislation repealing Glass-Steagal, as well as NAFTA. The president was supported in this by Hillary Clinton. Wall Street Senator Ron Wyden. These folks continued to serve Wall Street’s interest under then Wall Street President Barack Obama.

The Clinton’s get $225,000 a piece for making speeches from Wall Street, while Obama gets $400,000.

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