Wall Street corruption demands attention

 

 

Where are the bells of liberty? This past week should have been a watershed moment in American politics; a moment so appalling and disturbing that every American ought to have stopped in their tracks and reevaluated their outlook on government, and our democracy specifically.

For years, Sen. Elizabeth Warren has been a lonely voice in Congress, joined only by a handful of her colleagues in calling attention to the abuses of Wall Street and big banks – abuses which led to the financial collapse and the economic downturn that the lower 90 percent of Americans are still trying to dig their way out of.

Too big to fail is unacceptable – it puts the economic livelihood of the nation at risk of another one percent manufactured crisis in which the 99 percent must be their savior, only to be discarded and left on a cross of greed and unemployment.

Following the financial crisis, Wall Street took advantage of friendly ears, often former and future employees, sitting on the regulatory thrones of D.C. and used bailout money to pay executive bonuses and, more alarmingly, grow even larger and more dangerous.

Senator Warren has called for these too big to fail banks to be broken up so they do not gamble on the backs of hard working Americans. Last week the unthinkable happened – Wall Street bankers said they and their firms might withhold all campaign donations from Democrats in 2016 because of her rhetoric.

Congress’ job – unless they don’t actually care for the Constitution as much as their lip service would imply–is to establish justice, promote the general welfare of citizens and secure the blessings of liberty for “We the People.” Unfortunately, too few Americans take advantage of their civic duty to hold Congress’ feet to the fire.

But the issue the U.S. faces today is not that the citizens feel that Congress, and therefore our government, is for sale. Any person upset with a legislative or electoral outcome can complain in a moment of frustration that their government is corrupt and for sale to the highest bidder – the last two elections have demonstrated that.

Whether or not citizens believe it is something Congress should absolutely be concerned with. But the bells of liberty should ring out that Wall Street banks actually feel that Congress, and therefore our government is for sale.

This situation is far beyond the concern that citizens feel this way. Any member of Congress who takes their oath of office seriously should be bludgeoned by the realization that we now live in a world where the people with money legitimately believe Congress has a price tag.

Those who are tasked by the Constitution with regulating Wall Street are being regulated by it. The threat from Wall Street to withhold donations to Democrats for the 2016 elections is a subtle illustration of that.

But the world rolls on – the bells of liberty ignored, the promise of the future too distracted by tweets, likes and tags to realize the magnitude of their ringing. And today Wall Street opens a text from America: yes, we are for sale, and we are too indifferent to take the time to care.

If only the bells had thumbs; then they could tweet out their distress and the world might be saved by hashtag justice. Thank heaven Senator Warren has the courage to take on the fight. #forthepeople.