Abraham Mendieta shows the effects of the proposals to reduce the excessive bank costs on the financial elites and the new administration as well. Abraham continues with his weekly column with San Diego Red.

Parece que o Forsetes e o Sath gostam bastante do Homem de Ferro

A photo posted by Level Up (@levelup) on Jun 30, 2015 at 7:39am PDT

The new proposal brought up to the Senate by Ricardo Monreal and Bertha Caraveo, has the purpose of prohibiting some of the usurious and mercenary commissions of the banks in Mexico (same that don’t dare to do so in their main branches) we just glimpsed the force of it, and also the fragility of the stock and financial system, one relatively foreign from the immense majority of mortals that do not quote on the stock: a proposal with which, according to a poll by La Jornada, we agree 93% of citizens.

The stock markets have seen for the first time something they know but do not want to assume: that sooner than later, progressively and pacifically a promise will start separating the political power from the economic, and therefore, they’ve changed their modus operandi: they have not filled the parliamentary chambers with gel-coated lobbyists, offering luxury dinners camouflaged in the most luxurious hotels of Polanco and Reforma, nor have they sent their government funded media to a safe suicide (except for some clueless victim, who had to justify their refusal at the time, communication and immediate consequences, and never in the proposal).

The banks have asked this time (not bought, nor blackmailed) the mercy of the political power: they have felt it close, they have feared, they have been in a bad place, and their shares in the stock market (which are nothing more than the value and benefit of the private and financial institutions, it is never collective or national wealth) they have collapsed by 5%. Not only did the banks feel it: also Urzua, Monreal and probably, even Andres Manuel, because in the public service, if they don’t feel it close it means they’re not gambling enough: although MORENA is not listed on the stock market.

The banks have asked for time and they have been granted with two warnings: firstly, that there will not be fiscal modifications: but only from the executive power, and only during the first three years. Secondly, the legislature is an independent power, and it will continue on the agenda agreed by the votes with its representatives, including, of course, this proposal that will be debated and agreed with all the interested parties, starting with the largest one: the people.

Presumably, the most relevant of this is that here begins the definition of the new political balance game within the party, the government, the legislature and the citizens: MORENA begins to take the positions that its people legitimately gave at the polls, which will end up managing the contradictions of having only that small part of the power only acquired when an election is won.

¿Pero como me va a dar una putiza si me bloquea antes de responderle? 🙊🤷🏻‍♂️🤦🏻‍♂️ pic.twitter.com/qcsFE2Apxd

— Abraham Mendieta (@abrahamendieta) November 11, 2018

Abraham is a Political Scientist and has a Master’s degree in Media Policy from the Complutense of Madrid. He was a member of the Podemos Presidential Campaign Team in Spain and worked with MORENA on federal campaigns. He is currently director of the Madrileño Institute of Political Communication and parliamentary consultant of MORENA.

Twitter: @abrahamendieta