November 15, 2014

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Wall Street May Be Given A Free Hand… Again!

While many around the nation were consumed with James Comey’s testimony before Congress, yesterday, the House used the opportunity to pass legislation to roll back banking rules and significantly limit the power of Dodd-Frank, which was President Obama’s financial reform law, of which the Consumer Financial Protection Bureau is part.  This federal agency monitors and fines financial institutions for deceptive and fraudulent practices. Think about the predatory lending practices of some banks during the first decade of the 21st century that STILL have devastating effects on people and families (you may be a part of this number) around the country, nearly 10 years after the beginning of the Great Recession. Despite the narrative of economic recovery and sub five percent unemployment rates, this recovery has been the slowest since the end of World War II. So, one must ask the following questions of our elected leaders: In this time of continued economic stress which continues to devastate millions of people, families and communities around the country, what is the objective, exactly? Is it to preserve the Republic for the good of current and future generations among a wide cross-section of Americans? Is it to preserve allegiance to a particular political party or special interest group over country, no matter the costs to the American people? Or, is it to continue to line the pockets of the very, very few whose wealth has reached staggering proportions? These questions are not rhetorical but they are worthy of due consideration, contemplation and thoughtful and honest responses. The quality of our lives and those yet unborn depends on it.

 

Dr. Rob

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www.economicstresshelp.com and its contents are the property of Dr. Robert M. Brown III.