Wednesday, May 19, 2010
Congress: Wake Up Before It Is Too Late
We had some election yesterday. In some cases new people won. But, the real question, for me, that remains is: is there too much money coming in from Wall Street and the financial industry in the form of political contributions? Can Congress pass the necessary legislation to help prevent another financial crisis despite the large amounts of political contributions and lobbying money spent by the financial industry?
If money spent on political campaigns determines the laws and how this country is run, then the question has to be asked: do we still have a democracy. A pure democracy is where everyone votes on everything, but in a republic such as ours, we elect members of congress to represent us and they vote for our interests. If money is the determining factor in every election, and the financial industry uses their financial resources to control the outcome of elections and thus legislation, what will it take to turn the system around to represent the middle class?
The Congress can't even protect the military personnel in our armed forces when they buy a car. If the Congress will not stand up and protect those in uniform, that are putting their lives on the line for us, how can we expect these same members of Congress to do the right thing for middle class families that need to borrow money or use a credit card? Truth in lending is a joke.
This can only go so far. Once the 1% of the people have 90% of the money, the scales will move, and revolution will not be far behind. Capitalism can work, but there must be a level playing field so that everyone has a fair chance to compete. The financial services industry, banks and investment bankers, better realize before it is too late that their greed will eventual kill our republic. Without a middle class this country does not exist. Someone in Washington better wake up before it is too late.