Back in the days when the “Too Big to Fail” Banks were marching to power, seems the U.S. Chamber often assisted in litigation. A few of the media interviews were a bit disturbing with leadership, one head referring to taking “scalps” in the skirmishes. As has been widely determined and reported, the banks almost put the whole country “out of business”.
America even failed criteria to rate as a Democracy or even Republic in a study by Princeton and Northwestern Universities. We met the criteria though for an Oligarchy.
Americans understand this (well at least 73% according to this article) and are sick and tired of dark money pools disrupting the political process.
Back when the Great Economic Recession was preventable, 47 State Attorney Generals signed a joint letter to the Office of the Comptroller of the Currency (OCC) in concern of the power the banks were amassing. They were not allowed to “interfere” with National Banks by passing legislation and attempting to investigate or prosecute. This was also signed by the Attorney Generals of D.C. and Puerto Rico. The U.S. Chamber thought and fought otherwise, with disastrous consequences. Not only for the American people but a bloodbath for businesses.
Again, with pressure from the FBI as well as State Attorney Generals, The Congressional House Financial Services Committee wrote a desperate plea that the OCC take action. This too was rebuffed, and again one has to wonder, if the U.S. Chamber of Commerce wasn’t against their too big to fail policies then why should they be alarmed?
This seems to smack of organizational feather bedding and cronyism. Rather than be alarmed at the power grab of the oligopolies, the U.S. Chamber of Commerce seems to be doing everything within their power to assure it.
Just as Walgreens was strong armed to move headquarters and skip out on a share of taxes, they resisted in loyalty to their customers, American businessmen and businesswomen should also tell the U.S. Chamber to shape up or they will ship out and regroup with leadership they can trust.
Because for the majority of American businesses, they are trying to recover from the last huge blow. Another disaster created by assistance from the U.S. Chamber of Commerce may sink them for good.
– Barbara Cochlin