The overhaul, which still requires approval from the full Congress, won’t shrink banks deemed “too big to fail,” leaving largely intact a U.S. financial industry dominated by six companies with a combined $9.4 trillion of assets. The changes also do little to solve the danger posed by leveraged companies reliant on fickle markets for funding, which can evaporate in a panic like the one that spread in late 2008.Is anyone surprised? Our government is owned by these companies. The challenge for the ruling class is to camouflage what they are doing behind some sort of democratic process.
Meanwhile, increasing numbers of working people are thrown on the garbage heap of unemployment without any safety net.