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State of Ohio (Clermont, Brown, Adams, Hamilton, Pike, Warren, Scioto Counties) | November 2, 2010 Election |
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Financial Regulation That Protects Taxpayers Not Wall StreetBy Surya "Chili" YalamanchiliCandidate for US Representative; District 2 |
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For dramatic regulatory reform that brings back Glass-Steagall, limits leverage, and turns "too big to fail" into "too big to exist." We must put Main Street ahead of Wall Street to protect American taxpayers.The financial sector is made up of large casinos masquerading as banks. They do this to get massive public taxpayer backing in the event something goes wrong. But when things are going well, they pay themselves billions of dollars in bonuses. Unlike other, more controversial policy issues, financial reform is stalled only because of the power of their lobbyists. Over the past two decades, this lobby has donated more money to both parties than other sector. However, if we do not rein them in, they will be back to finish the job they started in 2008.
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