Repuplicans Trying To Repeal Wall Street Reform Law

Whenever I come Across a headline like this I begin to wonder about whose side the Republicans are really on.

Granted it is only a little over a handful of the current Republicans in Congress who are fighting against this new reform law, but those are the ones who only seem to look out for themselves and the Wall Street bankers, so this alone shows you that we average consumers are not on their top priority list.

This Wall Street reform law was put into place, so that the average consumer will be protected, but it seems to me like those republicans aren't on the average consumers side because of their push to repeal a law which Federal Reserve chairman Ben Bernanke said was put into place because the regulatory system that existed during the economic crisis was insufficient.

Sheila Bair, who is the chairwoman of the F.D.I.C. also said that it would be very harmful to repeal this new reform law.

The reason that it is important not to repeal this reform law is because it tightens up the loose regulations that former President Bush had put into place, and it also adds new oversight, which includes an agency that would protect average consumers.

Many from the financial industry, who by the way, are all about making big profits off the backs of the little guy, are also opposing the new reform law and have been working hard to water down or delay hundreds of new reform rules.

The result being that the House financial Service Committee is expected to pass legislation which would water down the head job at the new Consumer financial Protection Bureau.

Now that we are more aware of what those Republicans and financial corporations are aspiring for, we are now able to make a more clearer decision for ourselves as to where we should put our hard earned money. (I hear that credit unions are becoming a lot more popular).

Oh, and let's not forget about all the money that was stolen from all those 401 k retirement plans during the beginning of the recession, but that should be the least of your worries because you will be lucky if it will be there for you when you are forced to retire early from a job that you thought was secure.

The final thing that needs to be said is that we should all take note of who the repealing Republicans are, so that we can vote them out and replace them with an independent candidate who isn't financed by financial corporations that don't support protective measures for the average consumer.

The video that I am including will hopefully give you more incentive to take more control over your hard earned money.



I am also including a link for you to check out.

http://blog.reidreport.com/2011/03/wall-st-vs-main-street-house-gop-pushing-to-roll-back-wall-street-reform-kasich-says-frack-the-parks-and-corporate-tax-slashers/