The Middle Class Needs More Than Talking Points
Lawmakers on both sides of the aisle have been talking a lot about the middle class. But, that talk is cheap as long as their in bed with Wall Street.
Six years ago, our economic system came crashing down thanks to those degenerate gamblers and their bankster buddies. That crash left 23 million Americans without jobs and got one million families kicked out of their homes, but our legislators are actually helping Wall Street set up this same house of cards all over again.
According to a recent article by former Labor Secretary Robert Reich, “the middle class can't be saved unless Wall Street is tamed.” As Secretary Reich explains, the banks that brought down our economy have only gotten bigger since the financial crash.
Back in 2000, the five largest banks in our country held 25 percent of all America's banking assets, and today they hold almost half. Meanwhile, the Federal Reserve continues to keep interest rates near zero, which means that Wall Street can borrow money cheaper than ever, and use it to gamble on high-risk bets.
Too-big-to-jail banks like Goldman Sachs and JP Morgan worked hard to keep financial regulations like Dodd-Frank from having any real bite, and now they've managed to wipe out what little protection that regulation provided to the American people.
Members of Congress and 2016 presidential hopefuls have been swept up in a wave of talking points about saving the middle class, but they're not doing anything to stop the monster that destroyed it in the first place. And, they're unlikely to do anything that might weaken the stream of corporate cash that flows in to their campaigns.
Until our legislators put Main Street ahead of Wall Street, they won't risk upsetting the banksters, and all their claims about saving the middle class will be nothing but talk. It's up to us to remind them that talk is cheap, and we want to see some action when it comes to regulating Wall Street.