Thursday, March 30, 2017

Rollback of the Fiduciary Rule

For those keeping track, back on February 3rd, Trump signed an execute of order targeting the Dodd-Frank Act, the tepid financial reform passed to try and prevent a repeat of the 2008 financial crisis and its trillion dollar bail-out of Wall Street.

The lady in green seems very pleased. That's Representative Ann Wagner, Republican of Missouri's 2nd district, who called rolling back the fiduciary rule “a labor of love for me.” Coincidentally, donors with names like Jones Financial Companies, Northwestern Mutual, Wells Fargo, Financial Services Institute PAC showed Wagner a lot of love in the form of campaign funds.

Wednesday, March 29, 2017

Congress rolls back Internet privacy

The Republican Congress proves again that they care more about wishes of corporations than the best interests of constituents.

The Senate has sided with the telecoms industry in a bill that lets internet service providers decrypt private traffic, collect personal information, and sell your data to marketers and others.

S.J.Res.34 - A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Communications Commission relating to "Protecting the Privacy of Customers of Broadband and Other Telecommunications Services".

It looks like practically all Republican Senators and all but 15 Republican Representatives voted for the bill, all Democrats voted against.

Net neutrality is next in their sites.

A political economy

A recent piece in the Economist ( A new anthology of essays reconsiders Thomas Piketty’s “Capital” , May 20, 2107) ends with these words: &q...