As Scandals Continue, Senate Republicans Stand Firm with Wall Street CEOs

Despite a national economy in ruins due to corporate malfeasance on Wall Street, a slew of scandals coming out in recent weeks about corporate abuses due to lack of oversight, and the fact that taxpayers footed an $800 billion price tag to bail out banks a year and a half ago, Senate Republicans refused to even allow debate on a package to reign in Wall Street abuses yesterday.

Every single Republican in the Senate joined one Democrat in refusing to even allow the bill to be debated, meaning that even though nearly 60% of the US Senate wants to consider the bill, it is currently not able to move forward because of the Senate fillibuster rule. 

In doing so, Republicans in Washington made it clear thay they support the big banks, who have spent millions to defeat the bill (JP Morgan alone has spent more than $1.5 million lobbying in 2010), ahead of taxpayers and consumers like you and I.  Oh, and when it comes to you and I, two-thirds of us think Wall Street needs tighter rules.

And here in New Jersey, despite all of the evidence showing the recession has caused budget problems in nearly every state across the country, Chris Chrstie continues to blame public workers who are just playing by the rules.