This cartoon says it all. This is the classic people against corporate power. I am beyond pretending to be surprised when the Democrats choose power over people time and again.
LA Times: “Where is the line for the 3 million ordinary Americans who face foreclosure? Tell me what line they get in. On behalf of our members, who are livid, I resent this.”
A labor lobbyist working on Capitol Hill said Democrats he talked with were uncertain how to respond, in part, he believes, because they effectively report to two constituencies: labor unions and working households that have “been the backbone of the Democratic Party” and Wall Street firms that have “been providing them campaign contributions.”
In fact, the securities, banking and mortgage industries have been the top category of donors to both political parties in the past decade, according to the Center for Responsive Politics, a nonpartisan research organization.
Its seems that banking, credit cards, and Wall Street are to Democrats what oil is to Republicans. As Mal points out the current crisis goes back to the 1999 deregulation bill passed with overwhelming Democratic support. These are the same interests which Biden served when he pushed through the bankruptcy Bill, or Obama served when he voted against a 30% sub prime interest rate cap.
Lucky there is still one Senator who is not bought and paid for by the financial industry.
Bernie has initiated a petition and there is still time to sign it.