The American public got played (again) for chumps back in 1999 when we weren’t in the streets protesting Slick Willy’s signature of the Gramm-Leach-Bliley Act.
It wasn’t the first time. It undoubtedly won’t be the last time, either, unless we’re willing stand up once and for all time against the failed ideology of conservatism.
So, what has GLBA wrought? The ’08 crash, for one thing.
Now there’s hope for us and for Main Street:
As it happens, a trial just ended in Sacramento in which a jury was convinced that “executives intended to make fraudulent loans.” Here’s the thing, though: It wasn’t the government that made the case against the financiers; it was the defendants.
“Finally, Wall Street gets put on trial: We can still hold the 0.1 percent responsible for tanking the economy”; Thomas Frank, Salon, Sept 7, 2014.
The real estate bubble that Wall Street executives knowingly manufactured while knowing they’d escape unscathed is finally coming to some justice.
It’s about time. Their crimes and the travesty they created turns 6 years old next week.
Now, I know some of you still believe the libertarian fantasies of Invisible Hands and “free market” solutions. Wake up, please. Those are fantasies conjured up in the imagination of a sub-par Russian novelist and then perpetuated by the likes of big business propagandists like Milton Friedman and the Koch Brothers. It’s not the real world, and you have been duped.
I know lots of you like to mix in large doses of Wall Street hero-worship, too. You think people like Jamie Dimon, Dick Fuld, and Lloyd Blankfein are people of admirable character with great and endless ambition who make for exemplary role models because of the wealth and power they have amassed.
Again, you have been duped. Open your eyes. They and people like them play you for a fool. They are the ones who drove the economy right off the cliff. They have never paid a dime of recompense and, with extremely rare exceptions, have not done a minute of time behind bars for their crimes. What’s worse is that they’re still in charge.
Finally, there’s this. I know you hate hearing it because you know it’s true. Reaganomics.
Too many of you insist on believing the lie that is trickle down economics. The economy has been slow to recovery because the government bailed out Wall Street instead of Main Street. The rich got paid off for their mistakes and then took their money offshore. Banks have been operating at a federal funds rate of effectively zero for how many years now, and still no money seems to be reaching anyone except the largest and most profitable corporations.
Do you not get it yet? The government didn’t do enough 6 years ago and it still hasn’t done enough to stimulate true growth and real prosperity at its source – the MIDDLE CLASS AND THE POOR WHO ACTUALLY DRIVE THE ECONOMY WITH OUR SPENDING!
Please look at the facts. Please stop telling yourself that less regulation is always better.
Please stop voting for people who think money is speech and corporations are people.
(Does it surprise anyone that the 18 Senators who voted today against an amendment to overturn Citizens United were all Republicans?)
Please stop ignoring the fact that all the gains in our rigged economy are going to the top, that none of it will ever trickle down to you, and that all the gains are privatized while all the losses are socialized because too many of YOU insist on voting against YOUR OWN economic self-interests.
Please stop voting for Clintons and Bushes and Ryans and Pauls and Romneys.
(Yes, Clintons, too, and any other corporatist Democrats. They are part of the problem, too, just not to the same degree as Republicans and their pesky little brothers and sisters in the libertarian and tea parties.)
I get it. It’s your choice. You’re free to vote for whomever you like. You’re also free to keep playing the role of the rich person’s chump.
Just know this. There’s a growing number of people who will keep revealing the truth while you believe the lies. We will keep working to get money out of politics while you continue to vote for Big Money, whether you realize it or admit it, or not.
We will keep doing this in the hope that you’ll one day come to your senses. We will keep doing it with the certainty that if you don’t come to your senses, well, at least there’s hope for your (and our) children and grandchildren. Remember this. It’s their eyes we’ll all have to look into someday.
One more thing you must know. It’s the only logical conclusion anyone can come to in light of the last 35 years or so, and that’s this. Conservatism is a failed ideology.
Whether its ISIS or Westboro; whether its bin Laden or McViegh; whether it’s Bibi or Cruz, conservatism in all its forms and flavors is a failed ideology.
In political and economic terms, it has failed everyone except for the very rich and the very powerful who wish to go on subjugating and oppressing workers and ordinary citizens.
No society has ever advanced by being conservative, or by looking inward or backward, or by concentrating more and more wealth and power into fewer and fewer hands. This is the very definition of conservatism today in America. Make no mistake about it. There is one and only one political party embracing the failed ideology of conservatism. One.
Main Street, your salvation is not going to come from ideologues who want to conserve the status quo of unequal power and unfair capital distribution. You must see by now that nothing is going to trickle down to you. There’s nothing for Big Money to gain by pressing politicians for policies that help you to thrive.
Remember this. It wasn’t liberals and progressive who drove you and your fellow business owners to the brink of extinction by bribing or threatening local zoning boards in order to get sweetheart tax deals for the likes of Walmart. It wasn’t liberals and progressives who put Main Street out of business by driving down prices for goods and services by moving manufacturing overseas and then importing cheaply made products back to store shelves. It wasn’t the poor or the disenfranchised or the liberals and progressives who, once they had forced you out of business, continued to pass tax reforms that further enriched the rich, tried to kill unions, and who caused your standard of living to stagnate and decline by ensuring that the only jobs left in your communities were the ones paying minimum wage.
These are not liberal and progressive ideals, but they are at the very core of conservative ideology and it’s evil offspring, Objectivism – a perverse euphemism for a degree of vile greed and selfishness to qualify as a psychosis.
Look, it’s time we all became progressives. It’s how society will progress.
More than that, it’s time we all took the fight directly to conservatives and libertarians using the facts and history they cannot deny and which proves, once and for all time, to Main Streets everywhere that, on election day and with extremely rare exceptions, a vote for a Republican or libertarian is a vote against yourself, our economy, our society, and our future.