Tag Archives: deregulation

A preview of things to come with Romney…

Well…it was an interesting week last week with the revelation of a 2 billion dollar loss at JPMorgan that was caused by trading in the same kind of unregulated derivatives that caused the meltdown in 2008/2009, and the losses might even be bigger once all of dust settles. I find it funny that the companies that have fought the re-regulation of the financial sector the hardest continue to make these types of trades putting the economy at risk with their “trust us” attitudes but little else…and if ole Mitt is elected, he has stated that one of his first goals is to cut the weak regulation that has been passed in the past few years and “get government out of the way” basically letting the banks do whatever they want, including risking the entire economy to make the obscene profits that flow to the 1%; never to anyone else. It’s just another example of the vision that the repubs have for the country…that the lucky and connected few reap all of the rewards and everyone else takes the risk….and the middle class continues to disappear…geez…