Poison Pills
Reading time 49 seconds . . . .
We the People paid for all the losses (and far more) from the big banks having gambled with government guaranteed funds and plunged us into a recession from which we may never fully recover. Of course, we are wanting to ensure that such a thing will never happen again, so naturally our legislators, those in the People’s House whom we elected to represent us, are out front leading the battle to protect against funding the banks’ gambling addiction, right? Any governmental protection for those banks from their gambling losses would be a legislative poison pill to our representatives because they represent you, right?
Wrong and wrong. The House of Representatives passed a budget bill that ensures that you foot the bill the next time Jamie Dimon, CEO of JP Morgan Chase, gambles and loses.
And don’t think that it’s just those corrupt, bought-by-big-business Republicans ensuring a banking free pass. 57 Democrats voted for that idiotic budget, too. That’s how deep Big Money reptilian fangs are embedded into the neck of your country.
The four biggest banks handle 90% of all derivative action, so this damnable banking amendment to the budget is not designed to protect the thousands of mom and pop banks in America. This amendment is solely for the benefit of those four hideously large special boys who are too big to fail and which we ensured with wimpy Dodd-Frank legislation will continue to be too big to fail.
Too many of our legislators are focused on their own short term self-interest and that is inextricably tied to the interests of Big Money. Unless you’re a member of that club, a majority of our legislators don’t hear a word you’re saying. And that should be a poison pill for you.
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Ed. note: There is much in America that needs fixing and we are on a path to continually fail to make things better. It is my goal to make a difference – perhaps to be a catalyst for things to get better. That is the reason for these posts. To accomplish the goal requires reaching many thousands of people and a robust dialogue. Please help by offering your comments, as well as by passing this along and encouraging others to subscribe and do the same. Thanks. JA
Copyright 2025 by Jack Altschuler
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