Beware #republicans Great friends of #banks #insurance #oil #pharma

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These two articles point out the ensuing battle to come as newly elected republican "leaders" strive to severely water down if not completely dismantle the Frank-Dodd financial reform bill..

Democrats sold this bill as clamping down on unfair business practices of banks and as a way to curtail their dangerous derivatives trading and also to put in place stronger consumer protections..

Republicans fear the new law will weaken the banks ability to make money and therefore damage the economy and cost even more jobs..

Who are we to believe is working in OUR best interests? It's a tough call I guess since the majority of politicians in BOTH parties are greedy, corrupt and in the pockets of many special interest groups. Especially in the areas of finance/banking and insurance/health care not to mention energy/oil, unions, multinational corporations and God only knows who else..

Anyone who thinks the republican victory in the November election was the answer to our collective problems of greed and corruption in Washington is sorely mistaken in my opinion..

Please check the two articles below to get the flavor of what is now being said about the financial reform bill..

I don't recall republicans mentioning financial regulation reform much during their campaigns but as soon as they got a little power it sure seems they are in a big hurry to rush in and help out those poor banks..

You know, the zombie banks that went bankrupt in 2008 and remain insolvent today? And even while they are still bankrupt and insolvent they have no qualms whatsoever about throwing American citizens from their homes out into the streets, taking away their cars and laughing at their requests for credit..

In my opinion this economic episode will never be over until the too big to fail banks get what is coming to them.. right where the sun don't shine.. However, I do NOT expect the newly elected republicans to be on the same page with me there.. In my opinion the republicans will be MUCH friendlier toward the usurious banks, retailers and corporations while doing everything in their power to keep commodity costs high to support their friends in energy and continue, as obama has, to find new innovative ways to continually pump more money in to the coffers of insurance companies, the health care industry, the pharmaceutical companies, the military.. You get the idea.. It seems no matter which party runs government all we ever get is more government and more government spending..

All that without even mentioning the Federal Reserve Bank.. Republicans, in my opinion, will do everything in their power to protect the FED from any scrutiny, transparency or accountability.. We'll see I guess..
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J.P. Morgan Memo: GOP Will Slow Down FinReg

Newly-Empowered House Republicans Take Aim at Dodd-Frank Financial Reform Bill

Greg