Trump, Congress, Tear Up The Securities Act 1933

In this May Day, when the indisputable analysis of Karl Marx regarding labour’s role in value production are celebrated across the world, and with it too the workers’ rights, this generation is beginning to learn of an injustice at the scale of the previous discrimination against blacks, of the previous discrimination against gays, and of the previous discrimination against women. The Securities Act 1933, still very much standing in force, unashamedly discriminates not just against the poor, of all colors, genders or orientations, and not just against the middle class, but against everyone that is not a millionaire and, and this is a very important and, and everyone that is not a bank. Jay Clayton, the former bankers’ lawyer, has now applied this draconian law of nearly 90 years of age – a law written at a time when only the rich could vote – to a very new invention…

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