While most of the country wasn't looking, House Republicans voted to claw back virtually every banking regulation implemented after Wall Street crashed and the Great Recession began. With so much scrutiny on the White House, Senate Republicans are now poised to roll back Dodd-Frank and the Affordable Care Act in the same month. Mitch McConnell, Paul Ryan, and every other politician bought by Wall Street and corporate donors thinks that they can get away with this while we're distracted by the daily circus in the West Wing.
We haven't forgotten what Wall Street deregulation got us last time. A reeling housing crisis, millions of people's life savings wiped out, and 800,000 jobs lost every month by the time George W. Bush left office. We remember Occupy, and the reprieve that the most egregious offenders got from going to prison. Executives at the largest financial firms who gambled people's hard-earned life savings away were treated less harshly than the people actually paying their mortgage.
We need to break the big banks up and implement a modern day version of Glass-Steagall, but we have to stop Republicans from rolling back even more Wall Street regulations first. Will you join our fight to protect Main Street from Wall Street greed? Sign our petition to tell Congress: Stop the Wall Street assault on working families.
The Financial CHOICE Act wipes out the Dodd-Frank law signed in 2010, putting the Consumer Financial Protection Bureau in Donald Trump's control. That's right, the department charged with protecting consumers will be under the control of a person who has spent his entire life ripping people off. The biggest banks that were considered “too big to fail” at the time of the Recession are even bigger now, and virtually all new income is going to the top one percent. Giving Wall Street another break isn't solving the crisis of income and wealth inequality.
While Paul Ryan and the House were stripping essential banking protections, voters in the United Kingdom rejected the Conservative government and their cabal of bankers and billionaires, and embraced Jeremy Corbyn and the Labour Party's reinvigorated progressive movement. People across the world are ready for a movement that takes on the greed of the few, and works on behalf of the many.
Glass-Steagall is part of the solution, but it doesn't solve the entire problem. We've still got so much work left ahead, like overturning Citizens United to get Wall Street and special interest money out of politics. Nobody could have prepared for the daily assaults on our health care, housing, environment, and civil rights since Trump took office, but organizing as many people as we can is the only shot we have at fighting back against the greed he serves. Stand with us as we take on Wall Street and the special interests that Congress represents. Sign our petition to let Congress know we won't let Wall Street take us back into another recession.
We will see economic justice be done in this country, with an economy that works for all. Thank you for joining us.