Can you imagine how awful it would have been to have Donald Trump in charge during a catastrophe like the 2008 financial crisis?
Well, I’ve got some bad news for you: that’s exactly what Lamar Smith just voted to make possible.
Do you remember what it was like when the economy collapsed in 2008? Millions of people lost their homes, and the rate of foreclosure- and eviction-related suicides doubled. The greedy bankers who caused the crisis didn’t get arrested…they got promoted. Unbelievable.
Lamar Smith just voted to make it possible all over again — this time with Donald Trump in charge. That’s the kind of compliance that $292,685 from the banking sector can buy you, apparently.
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Late last week, while the media focused on the Comey hearings, Smith voted to remove the consumer protections put in place after the 2008 financial crisis. The so-called “Financial CHOICE Act” gives predatory lenders and huge Wall Street banks and a green light to rip off working class folks while putting the entire economy at risk.
Worse, the big banks are even bigger now than they were when the 2008 crisis hit. In fact, the six largest banks now control nearly 70 percent of the financial system’s assets. Instead of giving these banks a green light to defraud us, Congress should be working to break them up.
We need a representative in Congress who will fight for us, not for big banks. Clearly, Lamar Smith cares more about donations from big banks than he does about his constituents.
We can’t let that kind of “representation” continue.