Jim Hightower: A Flat-Footed Backflip for Wall Street

[marmar]

A Flat-Footed Backflip for Wall Street

Saturday, 03 January 2015 13:29
By Jim Hightower, OtherWords | Op-Ed


Congress, which had been so tied up in a partisan knot by right-wing extremists that it became unable to move, suddenly sprang loose at the end of the year. Before heading home for the holidays, it put on a phenomenal show of acrobatic lawmaking.

In one big, bipartisan spending bill, our legislative gymnasts pulled off a breathtaking, flat-footed backflip for Wall Street. They then set a dizzying new height record for the amount of money deep-pocketed donors can give to the two major political parties.

It was the best scratch-my-back performance you never saw. You and I didn't see it, because it happened in secret — with no public hearings, debate, or even a vote.

Tucked into the year-end spending bill known as a "cromnibus" was a provision allowing Wall Street's most reckless speculators to have their losses on risky derivative deals insured by us taxpayers. Such losses were a central cause of the 2008 financial crash and subsequent unholy bank bailout. .................(more)

The complete piece is at: http://www.truth-out.org/opinion/item/28334-a-flat-footed-backflip-for-wall-street

[L0oniX]

1. Jihad against the oligarchy.

[pangaia]

2. Molly and Hightower

Sounds like a good....whiskey...
Texas Whiskey.

[lark]

3. The most sickening part

It was approved by 60 Dems and the president signed it. The people that are on our side are few and far between, most Dems are just DINOS and unfortunately that sometimes includes the leader of the party. Al Franken, Sherrod Brown, Eliz Warren, Bernie Sanders - these are a few of the true heroes of the working class.

[PowerToThePeople]

4. why, why, why!!!

[SomethingFishy]

5. I find it interesting that Congress, The Senate and The President

just allowed a bill to pass that basically says if Wall Street loses money on risky derivatives, they are allowed to ROB US to get it back.

But things are improving!

[Doctor_J]

6. It's the president showing his ultra-liberal, Republican-slaying populism now that he doesn't have

to hide his true self behind the Reagan Republican mask he's been forced to wear for 6 years.

- Actual Fan Club/Turd Way reasoning.