Posted on 02/17/2010 6:01:01 PM PST by Libloather
Wrong.
The Marxists are the first to court big corporations. Look at Obama. The list is endless.
I’m not particularly interested in defending individual Republicans here. I will defend conservative principles however, even though their justification is self-evident.
If any Republican becomes corrupted by power, they are violating conservative values. They defile themselves, not their former conservative beliefs.
there is enough blame to go around...
Glass-Steagall needs to be un-repealed
How are those international firms that had no such restrictions doing now? Just saying. It wasn't just a potential collapse because of US banks, but it was the global banking industry in crisis. How many billions of American taxpayer money (borrowed from China) went to foreign banks when the Fed bailed out AIG - perhaps hundreds of billions?
Glass Steagall may have needed some updating, and it's silly to argue that is solely or centrally responsible for our current condition. But, it's also a stretch to assert that it doesn't bear some responsibility for the mess we're in.
It's tough to be the CEO of a bank that doesn't get into riskier lending, and still pay yourself $30-50 million in bonus and salary. Borrowing at 3% and lending at 5% doesn't pay that well. The repeal of Glass-Steagall didn't strengthen America's banks, nor did it help bank shareholders - it just lined the pockets of some very well-educated Wall streeters.
There's a case to be made that private equity firms - firms that don't borrow from the government, nor have their depositor's accounts insured by the FDIC - should be virtually free of regulation. But banks, that feed frequently at the trough of government largess need to have some robust adult supervision.
Well maybe if you would quit trying to dodge reality all the time, I wouldn’t have to keep pointing out where the GOP is screwing up, and lo and behold, if you make a better Republican, you might end up with a better party.
No political party is perfect and the first duty of any adherent is to try to make his or her party the best. And to correct errors. And to learn lessons.
parsy, who says “Grasshopper, you are chirping so hard you can not hear the frog sneaking up behind you!”
If you have something of substance to add to the debate about the repeal of Glass-Steagall, let's hear it. But, when you scream "Marxist" and socialist on every thread as well as lob ad hominems, it gets tiring.
If you ever figure out just how your thought are completely inverted from truth, you’re likely to become conservative.
Here’s a start: One, the good party is defined by principle. Two, each individual is responsible for their own behavior. Nobody can “make” a better Republican except that individual.
(parsy, who wastes his time warning the heron to watch out for frogs)
it has to be George Bush’s fault, somehow he must have been involved
They like to blame Phil Gramm (Republican) for that one......
In fact Republicans put it through Congress
In both the Senate and House it was Republican majorities that put it through. Most Democrats voted no.
Bill Clinton (Democrat) signed it
Bob Rubin (Democrat) pushed it hard and he was Secretary of Treasury
Larry Summers (Democrat) was also there pushing this crap
If we had an honest media - and that's a big "if" - it would be clear to everyone that George Bush had nothing to do with the financial meltdown. Every regulatory policy that led to the collapse was in place well before Bush came to office. In fact, if Bush would have been successful in his 2003-2004 attempt at corralling Fannie/Freddie, he may have in fact lessened the US exposure in this mess. Of course, the Dems played perfect defense for Fannie/Freddie eliminating any chance of averting the catastrophe.
Your take is correct. Please see post #29 for more of my view
you are correct parsy.
Republicans by the bucketful voted the Glass-Steagal repeal through Congress. Most Democrats voted nay
Sure.
Sounds like it comes down to the Democrat “affordable housing” scam, in which the leftists used a coward-piven type strategy to initiate their hoped-for downfall of the United States.
Clinton allowed investment banks to invest in derivatives, which were essentially high risk gambles with no chance of winning. For Clinton (Hillary’s college-era mentor was Saul Alinsky; Obama was instructed by Piven) and others involved in the scam, the almost certain outcome was eventual economic crisis. Oh what a coincidence—just what the leftists wanted more than anything else!
The problem with piven and coward is they define themselves, as do all leftists acting by their rulebook, as liars and thieves. This is unchangeable, no matter how much it hurts if you’re a leftist.
Trying to advance the leftist agenda without disguising it is like trying to sell a truckload of manure to a gourmet cupcake shop running short on cocoa.
I am glad to hear that the GOP will be henceforth excommunicating Messrs. Gramm, Leach, and Bliley. Perhaps the Libertarians or the Know-Nothings will have them.
parsy
You really think tea party folks are the heirs to Socrates?
In a way, you might have something there.
(parsy, who forgets about the trap I mentioned long ago)
I can’t remember how to spell gorelick.
She was at the center of 2 fiasco’s... 9/11 and Fannie.
Between raines and gorelick..they looted about 160million.
It was a bipartisan stupid act, and Gramm has to shoulder a good share of the blame, I’m afraid. What was he thinking?
And then Obama has to go and get Larry Somers and Rubin to be his economic advisers. And Rahm as chief of staff. Out of all the Dems he could have picked, its the Wall Street groupies.
parsy, who is beginning to think we just can’t win
Members of the GOP were involved.
parsy who should be checking out tag-lines.....
Mine is — “It all comes ‘round again”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.