The economic meltdown is due to McCain's man, Phil Gramm?

[Gregorian]

I may be the last to find out, but after hearing about the Glass-Steagall act being repealed in 1999, I now see what helped us get into this mess. Maybe it was even the main cause of it. Phil Gramm wrote the bill that did it.

Isn't this kind of like monstrously bad for McCain's campaign?

And I haven't heard Krugman say anything about this. If the bailout bill doesn't include reinstating the very thing that got us here, then I don't see how it's going to do much good. Maybe that's the tweak Krugment meant when he said it could be tweaked later.


This should absolutely deflate McCain's campaign.

http://en.wikipedia.org/wiki/Glass-Steagall_Act






Thanks to Warren Stupidity for posting on another thread and bringing this up.

[blogslut]

1. Yep

http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act

[Gregorian]

2. It was veto proof. Clinton had to sign it.

What a mess the repubs have gotten us into. And Congress isn't helping much.

[Overseas]

3. Yes. And reporters have mentioned Phil Gramm and know he is Johnny's likely Treasury Secretary,

but they don't want to hammer that point because that might hurt McZombie's campaign too much.

Phil "Nation of Whiners" Gramm isn't very popular, don't you know.

So the corporate media has done its duty by mentioning Phil Gramm's role when absolutely necessary. But they try not to say it too much. They mention Gramm when they have to but then let it drop so it won't hurt their campaign to get McZombie into the White House with his Christian Fundamentalist running mate.

[Gregorian]

4. It's like running a marathon. They get mopeds, we get concrete boots.

I never knew how screwed up America is.

Tonight is going to be revealing. I am so offended that we would let someone in to our highest level of power who isn't fit to bag my groceries.

I can hardly type. Sibel Edmonds. Valerie Plame. An illegal invasion, election fraud. You'd think this nightmare would have ended long long ago.

Enough of my blabbing. Too bad there are so many stupid people. I guess we're animals after all. :)

[Overseas]

5. It is all about Media Consolidation into right wing hands. 50 companies in the 80's down to 5 now.

http://www.corporations.org/media/ for the media consolidation chart

The five media companies owned by the right wing prefer that we do not impeach the Bush administration or put strong regulations in the finance sector or raise taxes on the ultra rich.

They do the minimum required to pretend their broadcasts are balanced. Be less overt than FOX and people will think you're delivering straight news.


They prefer we think other Americans are stupid.

[Gregorian]

6. Yes. I am all too aware.

It's a strange situation we find ourselves in. Not unlike lobsters in warming water. It took small steps over a long period of time to get here. Having been on this forum a while, I'm pretty much up to speed on everything.

It's still difficult to take. And unlike many, I almost always come back to "the people". We really are in charge. They really do represent us. Sadly, the people decided to put their energies into other things. In a nutshell, we're comfortable. But that's all ending. And I don't know how long or where it's going. But we've propped up this unreal lifestyle far too long. All of the things we talk about on this forum are means by which we're keeping our comfortable lifestyle alive. I hate to be so cynical. After all I want to keep living this way. I've just spent almost one entire year without electricity. It's not easy. Every American should be required to live below their comfort zone for a while. Then we wouldn't take it for granted. I'm blabbing again. But it's actually an extremely important subject. It's why we have a military. It's why we're dropping bombs on people.