Friday, May 18, 2012

The "Real" Tea Party Agenda

Rolling Stone magazine published an article which explains how Wall Street has killed off Democratic attempts at Financial Reform in the U.S. which should make any "Tea" Party Republican who happens to read it, and depends on AM Talk Radio & FOX News for their information, feel like a complete "chump". Wall Street Lobbyists, with the help of Republicans supposedly 'against' taxpayer funded 'bailouts', have been fighting against any real financial reform. Lobbyists for Wall Street had Republicans in The House of Representatives undercut Wall Street Reform Law passed in 2010. "Tea" Party Republicans need to know it was their preferred representatives who subordinated The Consumer Financial Protection Bureau to The Federal Reserve Banks. Instead of The Democratic plan to make banks carry insurance in an FDIC style fund to cover the cost of any possible future "bailouts", Republicans insisted the FDIC use taxpayers' money to pay for bank "bailouts", and then attempt to recover the cost of the bailout from Wall Street. Republicans argued it would "take too long" to recoup any "bailout" money given to Wall Street Banks, so why even try ? Although The Financial Reform Act was passed by Congress, and signed by President Obama, before Teabaggers took over The House, Republicans voted into office in 2010 have actually fought to 'save' Wall Street speculators. That's one reason the price of OIL soared to over $100 per barrel, despite "Free Market" fundamentals of Supply & Demand. The Fact is, Republicans have been working overtime to defeat all attempts at any meaningful Wall Street Reform. It's something to consider next time one of the endless parade of "Tea" Party Republicans clowns demands more "deregulation". Perhaps now misguided "Tea" Party Republicans will understand why their handlers insist on ridiculing "Occupy Wall Street" protests.

No comments:

Post a Comment