GOP will extend ‘good old days’

The Wall Street Barons who sold fraudulent subprime loans, disguised them as derivatives, and then made billions betting against them, have been immune from prosecution. These are the same crooks that caused the “Great Recession” resulting in millions of job losses and foreclosures. The same millionaire and billionaires who Henry Paulson bailed out with taxpayer money when he was President Bush’s Treasury Secretary.

Instead of jail time in a cell next to Bernie Madoff, they are raking in huge bonuses again. Sure, they have had to pay a few fines for misleading borrowers, but they are already are looking forward to more tax cuts if the Republicans win the White House.

Obviously, the GOP sees new financial regulation and the Consumer Financial Protection Bureau as a serious threat to campaign donations from their Wall Street friends. That’s why 44 GOP Senators filibustered President Obama’s nomination to appoint Richard Cordray to run the CFPB instead of losing to the majority in an up-or-down vote. So, Obama, who has faced constant obstructionism from Eric Cantor in the House and partisan attacks from Mitch McConnell in the Senate, had to use a recess appointment instead.

Now, the Republicans are whining about Obama using a recess appointment even though Reagan and Bush used just such a maneuver more than 300 times.

Maybe Middle Class Americans will eventually figure out that the Republicans want to protect their banker buddies at our expense. That’s why they oppose new financial regulation and would rather increase the Bush tax cuts for the rich. So, when you consider voting for Romney, or one of the other GOP presidential hopefuls, remember the bankers caused the crash in 2008 and their gigantic bonuses and the how the Republicans want to extend the “Good Old Days.”

Tom Minnerick

Elgin