Source: CNBC News
Last week, the Senate Finance Committee held a hearing in which a few of the top CEOs of major banks participated through testimony. During that hearing, a couple of significant breakthroughs were displayed. One discovery was a declaration of divesting/guiding investments with a severe consideration from Climate Change (as I posted about last week). That was great news. Now for the disappointing news. One specific CEO was asked about hiring wages had very little to say.
Normally, these large corporations lobby Congress to prepare them for such a hearing. When Congresswoman Katie Porter (D-Irvine CA) had the chance to ask the CEOs questions, no Washington intern could have prepared any CEO for the reality check she was about to deliver.
Wow! Based on his answers he is far removed from relating to the everyday worker that the job description Congresswoman Katy Porter describes in her questioning. Which is sad, to say the least. Although, the disappointment in his answer coincides with the significant disparity between the wealthy class and the poor class. The middle is eroding as we speak.
Until legislation is put into place to close the disparity between the two classes, moments like these will become more significant in frequency. The direction that the United States is headed is unsustainable. Taking away healthcare (pre-existing conditions), supplemental nutrition programs, and stagnating wages will only serve to widen the current gap. Right now is the time for new leadership to step in and make drastic changes. Listening to Congresswoman Katy Porter provides a new sense of optimism for the future of the Congress. Hopefully, the momentum keeps moving forward to a better world.
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