We’ve been talking about this for a very long time. The play from the Wall Street banks, you know the ones you and I bailed out and kept alive after they leveraged themselves to oblivion, is to sew up the 2016 presidential contest early.
They’ve pretty much got it half done. Hillary is very likely to be the nominee for the Dems. And she has taken piles and piles of money from the likes of Goldman Sachs etc. She knows the game. She’s been playing it since that cattle futures deal back in the sticks of Arkansas.
The other half of the equation is a bit trickier, but Jeb is looking good – or at least we are told that Jeb looks good – even though I haven’t spoken or corresponded with ONE person who is a Jeb supporter. And I do politics for a living.
But Bush or Christie, either one will do. One is a member of the club. The other is an obedient cop who would like to be in the club.
Basically Hillary, Jeb, and Christie could all be in the same party. And that is just as Wall Street wants it.
(From The New York Post)
But while the bankers want Dodd-Frank tweaks, they have zero interest in wholesale reform that ends the practice of bailing out banks every time they screw up, aka Too Big To Fail.
After all, that taxpayer backing (which Dodd-Frank enshrines) guarantees that the great and powerful will survive the next collapse with new taxpayer bailouts.
I’m told the bank honchos believe neither Clinton nor Bush nor Christie has the stomach for a fundamental restructuring of banks that would make them smaller — and leave more room for banks to lend to small businesses, because they’d have to hold less in capital as a cushion against ’08-style losses.
As for tax reform: When was the last time you heard any of the Big Three discuss a large-scale overhaul of the way the government confiscates what Americans earn?