Names Of The Senate Democrats Who Are Helping Trump Republicans To Set America Up For Another Financial Calamity
You remember what happened with the economic disaster of 2008, right?
Unscrupulous Wall Street investment firms set up intricate schemes that put huge numbers of working people into high interest mortgages that they couldn’t keep up with, ruining their lives and sending the financial industry that had placed huge amounts of money into these predatory mortgages into a tailspin.
Then, the federal government gave immense bailouts to banks, Wall Street firms, and big corporations, while leaving working Americans high and dry. As a result, the economic worth of millionaires and billionaires bounced back in no time flat, while the rest of the country continued to struggle for an entire decade.
Seeing that the scheme ended up serving them quite well, Wall Street, big banks, corporations and the filthy rich are pushing Congress to set the same old machinery of disaster into motion once again. They’ve drafted S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, a bill that will, if passed, profoundly weaken the regulations that were supposed to keep Wall Street honest and prevent something like the Great Recession from ever happening again.
What do we have to fear? There’s one big difference between America in 2008 and America in 2018: Back in 2008, most Baby Boomers were still at work, and had some time to earn back some of their savings before retiring. Now, most Baby Boomers are entering retirement, leaving jobs that won’t be refilled, thanks to automation designed to keep money concentrated in the hands of the top 1% of financial elites. When the next economic crisis hits, the Baby Boomers, who have seen their retirement funds transferred from pensions into Wall Street investment funds, won’t be able to return to work to make up for their losses.
It’s absolutely insane to take off the financial guardrails that were designed to prevent a repeat of the disaster of 2008. Unfortunately, it’s also predictable that the Republicans in Congress would be behind such a dangerous scheme. The core constituency of GOP politicians, after all, are the financial elites who profited from America’s misery the last time around.
What’s more disappointing is that 17 Senate Democrats have been convinced by their own wealthy donors to join the Trump Republicans in voting for S. 2155. We’re naming names. The following are the turncoat Democrats who voted to advance S. 2155 toward a final vote, so that the 1% can fleece the 99% all over again:
Michael Bennet, Tom Carper, Chris Coons, Joe Donnelly, Maggie Hassan, Heidi Heitkamp, Doug Jones, Tim Kaine, Joe Manchin, Claire McCaskill, Bill Nelson, Gary Peters, Jeanne Shaheen, Debbie Stabenow, Jon Tester, and Mark Warner.
When the next Wall Street fraud turns America upside down, remember these names. They’ll be the ones to blame.