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Why both sides of the political aisle are turning against Wall Street
Key Excerpts from Article on Website of Christian Science Monitor
Posted: May 26th, 2014
http://www.csmonitor.com/Business/Robert-Reich/2014/0507/Why...
More Americans than ever believe the economy is rigged in favor of Wall Street and big business and their enablers in Washington. Were five years into a so-called recovery thats been a bonanza for the rich but a bust for the middle class. The game is rigged and the American people know that. They get it right down to their toes, says Senator Elizabeth Warren. Which is fueling a new populism on both the left and the right. While still far apart, neo-populists on both sides are bending toward one another and against the establishment. And its not only the rhetoric thats converging. Populists on the right and left are also coming together around six principles: 1. Cut the biggest Wall Street banks down to a size where theyre no longer too big to fail. 2. Resurrect the Glass-Steagall Act, separating investment from commercial banking and thereby preventing companies from gambling with their depositors money. 3. End corporate welfare including subsidies to big oil, big agribusiness, big pharma, Wall Street, and the Ex-Im Bank. 5. Scale back American interventions overseas. 6. Oppose trade agreements crafted by big corporations. Two decades ago Democrats and Republicans enacted the North American Free Trade Agreement. Since then populists in both parties have mounted increasing opposition to such agreements. Left and right-wing populists remain deeply divided over the role of government. Even so, the major fault line in American politics seems to be shifting, from Democrat versus Republican, to populist versus establishment those who think the game is rigged versus those who do the rigging.
Note: For more on financial corruption, see the deeply revealing reports from reliable major media sources available here.
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