A few years back, letâ€™s say about 2008 for simplicityâ€™s sake, the terrible event we currently know as the worst economic crisis since the Great Depression really hit our country and the world pretty hard.Â
For many Americans, this crisis meant, or will mean, the loss of jobs and homes and was the harbinger of much misery.
Now, the precise, detailed causes of this recession have been the topic of much debate over the last few years, but itâ€™s clear that, in the grand scheme, unregulated, dumb and unethical lending and speculation practices caused the bottom to drop out on both the housing market and the banking sector, sending the U.S. economy spiraling downward and dragging the world with it.
And while the average American suffered, finance CEOs, like the guys at Goldman Sachs, made bank.
Fast forward to Monday.Â The recession may be ending. Jobs are returning and the market has stabilized. Congress is working to avert a future crisis of the same scale by trying to regulate and end the bad practices that caused this one.
To anyone but your most ardent laissez faire libertarian this would seem like a good idea.
Stopping the countryâ€™s largest banks from gambling with â€“â€“ and losing â€“â€“ other peopleâ€™s money through unscrupulous practices and effectively demolishing the world economy seems like a no-brainer, right?
Knowing its 41-vote minority can bring any legislation to a halt, the Grand Old Party decided politics are more important than financial reform and blocked the Senate bill that would do just that.
Itâ€™s sickening and saddening that in a country where so many peopleâ€™s lives have been shattered by unethical practices, our leaders canâ€™t even work together to secure our future.
The party of no just said no to our future prosperity. Thanks for NOthing.