The daily spectacle of Mr. Trump is proving very effective in distracting and diverting public attention, allowing the financial cartel to continue their self-serving work of queering public policies in their favor. To wit:
The current regulatory agenda of the Securities and Exchange Commission, published in July, removed more than a dozen proposals related to Dodd-Frank, including the plan to restrict bonuses. See: Trump admin chips away at post-crisis Wall Street rules.
Obviously they don’t want anything restricting bonuses paid to the banking sector. As shown here, financial deregulation and leaping relative pay in finance have gone hand in hand since the 1980’s. Both have now eclipsed the extremes that helped usher in the Great Crash of ’29 and decades of suffering thereafter. Very profitable for them indeed. Crushingly expensive for the rest of us. And will be again, no doubt.
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