It’s time to start paying close attention to the mechanisms of the deregulation machine. For the past 30 years, the business lobbies have pushed Congress and the executive branch to disassemble the regulatory system that has protected us from the worst excesses of Wall Street and Big Business. The catastrophic effects of this dismantling are well known — the misbehavior of Wall Street brought us the financial collapse, the global recession, and the dominance of the largest banks being both “Too Big to Fail” and their culpable executives “Too Big to Jail”.
Despite negative public sentiment and the rise of the Occupy movement, the avarice on Wall Street arrogantly continues on. The big banks are now even bigger and more powerful than they were in 2008 when they were bailed out by the U.S. taxpayers.
The effects of deregulation stretch to all walks of life. The profit-driven practices of big corporations have led to the deaths and preventable illnesses of thousands of Americans every year. Roughly 60,000 die from workplace related diseases and injuries, 200,000 from medical malpractice and hospital-induced infections, 70,000 from air pollution and 100,000 from side effects from dangerous pharmaceuticals.