It said the DSCC’s chairman, Jon Tester of Montana, is one of dozens of Democrats in Congress seeking to block implementation of key reforms in the party’s 2010 law to increase the financial industry’s accountability.”
What the hell is going on here?
The article goes on to say that Congress is moving to “close out the year with a flurry of bills designed to undermine regulation of the financial sector.”
Wait a minute…Democrats are trying to make it easier for Wall Street crooks to swindle us?
“Lawmakers may use unrelated, must-pass spending bills as vehicles to deliver legislative victories for Wall Street,” the article continues, “while the financial industry sends cash to their campaign committees.”
We know that the votes on these measures to soften accountability for Wall Street “are expected to be close.” That’s why “Democrats like Tester are also working with Republicans to block executive branch rules that would force investment advisers to prioritize clients’ financial interests over their own.”
Wow, Jon…what the hell?
You’re telling me that the farmer from Big Sandy cares more about “investment advisers” in New York than my family here in Missoula?
Damn, I’m beside myself.
This is the taint from New York’s Chuck Schumer that you can see and smell on Tester.
“Democrats have raised over $330 million from the financial industry” since 2011, when Dodd-Frank allowed this tomfoolery. Schumer is the Democrats’ “presumptive incoming Senate leader,” a man that “is considered a close ally of the financial sector.”
The article then goes into a list of 8 Democrats that are siding with Republicans to screw Americans over…all so Wall Street can benefit.
Why are they doing this? So those Wall Street firms will give to their election campaign funds during whatever tough election cycle they have coming up.
For Jon Tester here in Montana, that’s 2018. Long way away, but he’s already raising the funds.
“Over the course of his career,” the article states, “Tester has raised roughly $3 million from the financial industry.” Might not sound like a lot, but “$2.3 million of that money” has come “since the start of 2015.”
It’s a lot easier for Tester to raise money, now that he’s heading up the DSCC, the national arm that’s sole purpose is to elect Democrats to the U.S. Senate. The DSCC has raised $3.3 million from, “financial, insurance, and real estate companies” this year.
Wall Street crooks – should you be surprised?
They’ve always been buying off senators, and Montana is a damn good spot to do it. It’s no surprise why, either.
Wall Street is in shambles. We should be locking these bankers up and throwing away the key. Instead we allow them to bribe our Congressman.
Some countries don’t play these childish games.
Every Icelander will be given $226.38 in payment for the atrocities the banks caused that country in 2008. That’ll happen when the government buys up those banks.
Yes, nationalization – a bank’s greatest fear.
Of course, you’ll never hear the American media tell you that. As we saw last week, all of the major outlets are controlled by large corporations. The last thing they want you to think is that it’s possible to sue those crooks and hang ‘em out to dry.
Here in America nothing has changed since 2008. Oh, they’ll lie to you and say that things have improved, but you know deep down that that’s bullshit.
I’m not sure nationalization is the answer. Fannie and Freddie just chalked up a $475 million loss for the 3rd quarter. Since 2008 we’ve plowed $9 trillion in taxpayer money into a broken housing market. I’m not sure we have anything to show for that.
Today we have $18.6 trillion in national debt. This keeps our interest rates low, something that kills our retirees and anyone else living on a fixed income or interest income.
Ha – interest income…remember that? Probably not, as we haven’t seen it in the better part of a decade (alright, 84 months).
Don’t buy into all that talk that we might see a 0.25% interest rate hike in December. If the Federal Reserve did that we’d add even more debt to our debt load, a debt load we have idea on how to pay.
On top of this, our massive debt load has betrayed the returns we’d normally have experienced on pension funds. Nationally our pensions are underfunded by $4.7 trillion.
Many states are suffering because rates of return aren’t the historic 7% to 8% they would be if the bankers didn’t let their greed run rampant. Now we’re seeing returns of 5%, less in some cases.
California currently has $70 billion in unfunded pensions. Pennsylvania is $53 billion in the red.
On top of this Social Security has $40 trillion in liabilities yet only $2.7 trillion in total assets.
What a mess.
Still, however, we think we’ll be able to take on Syrian refugees, fund all of our veterans’ needs, and go about the task of mobilization so we can create even more veterans.
Why are we allowing this broken and corrupt system – one that does nothing to benefit your family, I might add – to continue?
Probably because people like Jon Tester want it to continue. Remember, he benefits from that broken system.
That broken system allows Jon Tester to raise millions of dollars each election cycle. That way he can go to Washington and work 97 days out of the year and make $174,000 for doing so.
It’s that debt.
We’ve been talking about it all through my Montana history books – bankers love debt because they can make interest off of it.
That means they can sit at a desk all day and do, well…nothing!
Quite the life, and you and I pay for it.
Jon Tester likes it that way and I’m sure we’ll hear a lot of groveling from his office this week on how that isn’t so.
Save it, Jon, save it for someone that cares – like those financial advisers that are so important to you.