The Senate voted 61-33 against the SAFE Banking Act on Thursday. Also known as the 'Too Big to Fail Amendment', SAFE would have given Congress the power to break up the largest financial institutions in the country. That it was defeated is sickeningly unsurprising, but what initially peaked my curiosity was simply the fact that not a one of our media establishments have breathed a word about the bill and the course it sought to chart. Isn't granting the federal government the greatest interventionist power it has had in generations a big deal--or any deal of any size? How did this get ignored? I suspect that I already know the answer, that you do, too, and that it involves the public relations arms of Goldman and J.P. Morgan and an anti-aircraft cannon filled with Lamborghinis.
What claim do we Americans make to citizenship in a democracy, anymore? I await the day when asking that question will produce an indifferent shoulder-shrug from any given respondent. That's when we'll know the door has shut for good behind us.
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33 is actually more than I would have guessed.
ReplyDeleteOn the bright side, the administration is going to start arresting terrorist suspects without reading them their rights first. Hungry for unprecidented levels of federal power? There you have it.
Shrug.