Political Responsibilities for Economic Inequality

This is a short summary of the political responsibilities for the economic crisis and ultimately economic inequality. These responsibilities tie together Reagan, and the  #neoliberaldems Clinton and Obama policies. There is no difference between the 2 parties; they have pursued the same neoliberal policies, that is more wealth to the rich (20%) and screw the rest. 

• Reagan started the "deregulation" of the financial system, at least ideologically. But he could not make much inroads while in charge.
• Then came Bill Jefferson (Clinton that is) which in few years, with the help of Gramm, Leach and Bliley signed into law the Financial Services Modernization Act that eliminated the Glass-Stegall Legislation which separated the investment banks (Goldman and Sachs, for example) from the commercial banks (credit unions, for example).
• If this was not enough, Bill went ahead to sign into law the Commodity Futures Modernization Act which opened the floodgate to the derivatives (subprime mortgages, etc...) casino gambling that ultimately took down the entire (world) economy from which we have not recovered.

Wall street has been and is a big contributor to the Clinton (both) and Obama campaigns. I wonder why.

Obama and Hillary Clinton economic policies are not different than those of Bill Clinton. See who they hired as their economic advisers (suggestion, wall street people Rubin, Summers, Geithenr and the like).

Finally, Clinton (both) and Obama support NAFTA, TPP, etc.. that have destroyed the American middle class.

All along Bernie Sanders has vehemently opposed this modus operandi of the political and economic establishments. For now let's leave it at this:

More about the economic Ponzi schemes in future posts.