After the great republican economic recession of 2008 caused by Bush's policies and a lack of regulation of the financial institutions, the democratic controlled congress under President Obama passed legislation known as Dodd-Frank that brought new regulations to prevent a future occurence and made the Wall Street Banks and other financial institutions more accountable.
But now with Trump striking down one regulation after another for business and the financial institutions, the GOP controlled congress voted to over turn a Consumer Financial Protection Rule that allowed class action lawsuits against banks. The action by the GOP will further loosen regulation of the Wall Street Banks. Little by little Trump and the GOP are dismantling the effects of the Consumer Financial Protection Bureau. All democrats in the U.S. House and Senate voted against the rule change. Louisiana's Senator Bill Cassidy voted for the bill while Senator John Kennedy (R) voted with the democrats in the Senate. In the U.S. House Louisiana's republican reps. Ralph Abraham Garret Graves, Clay Higgins and Mike Johnson voted for the bill change while Louisiana's democratic rep. Cedric Richmond voted against the change. Louisiana's republican rep. Steve Scalise did not vote.
Trump and the GOP continue their antiAmerican ideology with corporate America and the big banks after costing the federal government billions of dollars, ruining the economy, record job losses and huge deficit spending. Those are the one per-centers of greed who orchestrated the transfer of wealth from the middle class to the wealthy. The Trump-GOP swamp has been growing ever since the trumpet man took office.
America has witnessed three great bank failures, all on the republican watch (Hoover, Reagan and Bush 43) and those failures were the worst. Ditto the worst economic depression and the worst economic recession on the republican watch (Hoover and Bush 43). It was a time when the GOP looked the other way on enforcement. Reagan and Bush failed to learn what the Sumerians taught almost 6000 years ago when they believed that understanding the mistakes of the past, was the key to a better future.
Trump and the GOP are now following in Reagan and Bush's footsteps and could care less about governing, the people or the country. They made their decision long ago. Money, greed, power and ego. They are traitors to the natural order of life itself.
This commentary written by Joe Lorio
