Trump Abandons Hard-Working Americans for His Billionaire Friends
– An Indiana man, who lost his factory job of ten years when the plant relocated to Mexico, on President Trump – whom he voted for.
On the campaign trail, candidate Trump made populist promise after populist promise to the American people – saying "I'm not going to let Wall Street get away with murder. Wall Street has caused tremendous problems for us. We're going to tax Wall Street." However, President Trump has pursued a different course – and hasn't minced words about his priorities:
"We expect to be cutting a lot out of Dodd-Frank because, frankly, I have so many people, friends of mine, who have nice businesses who can't borrow money. They just can't get any money because the banks just won't let them borrow, because of the rules and regulations in Dodd-Frank." – February 2017
The fix was in from the very start: President Trump filled his administration with well-heeled Wall Street bankers, financiers and business tycoons worth more than $12 billion – many of whom were the very same people who brought our economy to the brink of collapse in 2008. Trump then greenlighted his billionaire-Cabinet to conspire with House Republicans to gut the strongest financial consumer protections in history and weaken the Consumer Financial Protection Bureau (CFPB) in the Dodd-Frank Act, a law designed to prevent another financial crisis by reining-in the excesses of our nation's largest and most risky financial institutions.
Just last week, House Financial Services Committee Republicans took a critical step toward achieving President Trump's grand plan of lining the pockets of his billionaire buddies when they advanced the GOP's Wrong Choice Act, a bill to deregulate Wall Street and bring us back to the darkest days of the financial crisis.
It is clear "bigger and better" for President Trump, his billionaire-Cabinet and House Republicans is first and foremost about enriching themselves and their friends on Wall Street. For them it is as if the havoc Wall Street wreaked on our economy during the Great Recession never happened. Unfortunately, for most Americans that pain cannot be forgotten. 13 trillion dollars in household wealth evaporated. 11 million people lost their homes. Millions of jobs were lost.
Mr. Trump, you need to be a President for all Americans – not just your billionaire friends. The American people – those who voted for you and those that didn't – expect better.