Republicans must be forced to wear this financial albatross around their necks

[SoCalDem]

Any dems who step up to assume even a little of the "blame" are doing us all a dis-service down the line.. We have all seen how seemingly benign statements or actions can have long-term ramifications, as the republicans re-write history in the future. Democrats should NOT give them ANY "cover". I have no doubt that soon, Joe Lieberman will claim that democrats had a hand in this debacle too, so let him be the only one who eagerly accepts blame.

The failure of our banking/monetary system was not accidental, nor was it unpredictable. Many economists predicted it, YEARS AGO. Even know-nothings such as myself, have seen this trainwreck coming for a decade or more.

This mess (or most of it) belongs in the laps of people like Phil Gramm, Alan Greenspan, and other republicans who lied and cheated, and then lied and cheated some more.

REPUBLICANS CANNOT MANAGE AN ECONOMY..

Say it loud and say it often. Look back at MOST of the economic failures/serious recessions we have had, and there are republican policies and/or politicians at fault.

Republicans believe, at their cores, that "the markets know best", laissez faire is their watchwod. Why?..Because people LOVE to gamble, but republicans prefer to gamble with OTHER PEOPLE'S MONEY. Republicans loathe restrictions/regulations, because they limit the wild betting sprees, and mandates that they tell people and show people what they are doing. They prefer to take their "profits" in secret.

Republican legislators do everything they can to make sure that loopholes exist for their friends, so they can make as much money as possible, but when greed inevitably takes over, they whine like little babies and ask for a bailout from the same people they have been cheating all along.

Bush skinned us all when he first came into office, by raiding our surplus, and handing it out to his pals, and he's exiting with one final F-you to us all by bailing them out with our grandchildren's financial security.

Today on the news I heard of a school that's in trouble for allowing kids to re-take tests they flunked (obviously to maintain their NCLB status)..My question is this? Schools must be "accountable" for giving kids a "second chance", because that's a BAD thing?...and yet giving a trillion dollars we don't even have, is a GOOD thing, if it's given to dis-honest WallStreeters who have scammed a generation out of their retirement money, their life savings, their very homes??

Where have we heard all this before??

Another Bush(with Reagan), another monetary scam..The S&L Scam of the 80's..

When republicans complain about regulation, and how bad they are, just ask them if they would like to be in a hospital with no regulations.

Every 15-20 years we seem to have a financial meltdown, and coincidentally, each one has its roots in republican-sponsored legislation or inattention to our economy.

If we keep getting our treasury cleaned out, and having our country plunged into financial insecurity, is it any wonder why we cannot provide even the basic benefits of citizenship to the least of us??

We are all told again and again, that we "cannot afford" a national health care system, that it would "break the bank", and yet we CAN come up with a trillion (it WILL end up more) to bail out a business sector that is rife with scandal and schemes...and one where millions of dollars' worth of "profits" have regularly been "taken" all along by people running those schemes.

They get to KEEP their ill-gotten gains, their employees get tossed out, their "business" fails, and the good ole taxpayers take it in the gut..yet again..

I have nothing against companies making a profit, but if the taxpayers are to continually bail them out, then there should be LIMITS placed on these same companies...permanent limits.. Limits for how much a CEO can make ...Limits on how they conduct their business..Limits about how much capital they must retain..
an end to "stock options"..Limits on margin buying/trading..Limits on speculative "gambling"

Maybe someone needs to dig though the legislation that FDR put in place, and re-create it.. It seemed to work quite well until Reagan and his "descendants" started monkeying around with it.

[Frances]

1. Privatization/Unregulated Capitalism for the workers

Socialism for CEOs who rob their corporations blind

[mrJJ]

2. Push McCains Role in Financial Deregulation

Freeper Board was having a cow about having Gramm + McCain tied together ... They're trying to deflect the blame to Clinton.. I just like pointing out the vote count & now the socialized welfare programs for the wealthy!

McCain & The GOP Own This Financial Mess

Gramm-Leach-Bliley Financial Services Modernization Act.

53 Republican Senators plus one Democrat - AYE

44 Democrats no Republicans - NAY

Economist Robert Kuttner has criticized the repeal of the Glass-Steagall Act as contributing to the 2007 subprime mortgage financial crisis.<6> Economists Robert Ekelund and Mark Thornton have made similar criticisms, arguing that while "in a world regulated by a gold standard, 100% reserve banking, and no FDIC deposit insurance" the Financial Services Modernization Act would have made "perfect sense" as a legitimate act of deregulation, under the present fiat monetary system it "amounts to corporate welfare for financial institutions and a moral hazard that will make taxpayers pay dearly".

"John McCain voted FOR the bank laws that led to the current credit crisis. John Mccain's economic advisor (Gramm) WROTE the law. 53 Republicans voted YES to the law. When you're in danger of losing your house & savings, can you take a chance on more of the same from those who wrecked out economy?"

"They, (Republicans) have socialized risk.

Financial reward has always been associated with assumption of risk, but what the republicans have managed to do is divorce the two and in doing so they have managed to hold the rewards for themselves while transfering the risk to all of us.

They must really believe the voters are stupid.

How The Senate voted

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=106&session=1&vote=00105

[sinkingfeeling]

3. But the plan of the GOP from the 30's onward was to dismantle the New Deal. They got their wish.

[riverwalker]

4. like a junkie managing a pharmacy

Republicans value money above all else, it is the standard by which they judge people, wars, values, ethics, morality. It all comes down to money. Placing them in control of the economy is like a hiring a dope addict to run a pharmacy.

[elizfeelinggreat]

5. absolutely right

k & r

[quiet.american]

6. Amen! nt

[Triana]

7. They want an 'ownership' society - they OWN this mess! n/t

[corkhead]

8. Traiter Joe was jilted, he's been pretty quiet lately

[SoCalDem]

9. he's got to be feelin' a little low these days

I hope he plans on retiring...His gig is UP.. He'll lose his committee assignments and I don't see him doing much of anything after November...maybe he'll become a FoxNewsAnalyst when his term ends..:)

[corkhead]

10. I hope you are right and he ends up on Faux Nooze, then I will never see his ugly ass mug again

:toast: