Too Big to Fail is in progress once again against us!

We are so small and incidental that we will be crushed without any forethought of any kind!!

Paving Way for Next Taxpayer-Funded Wall Street Bailout, Trump Fed Unveils Plan to Gut Volcker Rule:

"Just ten years after the financial crisis, Congress and the federal regulators have once again become Wall Street's enthusiastic partners in deregulation, putting the rest of us at risk for the sake of still greater industry profits."

Continuing the reckless onslaught against Wall Street regulations that Congress kicked off last week with the final bipartisan passage of the Bank Lobbyist Act, President Donald Trump's Federal Reserve on Wednesday unveiled a plan to gut the post-crisis Volcker Rule—a move that consumer advocates warn will unleash a torrent of gambling by big banks and dramatically heighten the risk of another financial meltdown.

"Even as banks make record profits, their former banker buddies turned regulators are doing them favors by rolling back a rule that protects taxpayers from another bailout."
—Sen. Elizabeth Warren (D-Mass.)
"Step by step, Wall Street continues its slow march on the path to rolling back all of the important consumer and market protections put in place after the 2008 financial collapse," Karl Frisch, executive director of Allied Progress, said in a statement on Wednesday. "These big banks are making record profits but that just isn't enough for them. They are hellbent on regaining the ability to gamble, knowing it's other people's money on the line."

Sen. Elizabeth Warren (D-Mass.), who led the Senate's opposition to the bank deregulation bill that Trump signed into law last week, also denounced the proposed rule changes as indicative of the "corruption" that rules Trump's Washington.

URL: [commondreams.org]|%20'This%20Is%20a%20Democracy%2C%20Not%20a%20Dictatorship'&utm_content=email&utm_source=Daily%20Newsletter&utm_medium=Email&cmmmc=Act-On%20Software--email--News%20%2526%20Views%20|%20'This%20Is%20a%20Democracy%2C%20Not%20a%20Dictatorship'--Paving%20Way%20for%20Next%20Taxpayer-Funded%20Wall%20Street%20Bailout%2C%20Trump%20Fed%20Unveils%20Plan%20to%20Gut%20Volcker%20Rule