Opposition in Congress from both financial services industry and the Republicans make every effort to try to stop the regulatory reform effort, Saying that the legislation is  “an unwarranted intrusion on markets that could hamper the nascent economic recovery.”

Sen. Jim DeMint even claimed that instead of looking at better ways to regulate Wall Street, Obama should really be looking for ways to cut Wall Street’s taxes:

“Instead of looking at more regulation, we could do a lot by fixing our tax system here in this country, to make us globally competitive. The President needs to focus on what really has caused problems and look at what has really made America so prosperous, and I’m afraid that’s not the lens he’s looking through right now.”

Watch him on the video below:

Unbelievable! The  solution of the Republicans to the mess they created for the last 8 years is  to make the same mistake again! Tax cuts, and more tax cuts for the corporate America!

This reminds me of an episode of the Simpsons, where Homer kept on getting electrocuted, saying “Let’s try the blue wire, doh! let’s try the red wire, doh! Let’s try the blue wire again,  doh! Let’s try the red wire again, doh!”

They had their tax cuts/breaks for the last 8 years already and look what happened? I am really disgusted of this. Do they really think the “trickle down theory” could actually work? That if we keep on giving the rich more money, more breaks and more power, they will eventually share some of that money to the poor? Goodness, I am disgusted beyond words. (more…)