Greed is good is the Republican mantra: via Nancy Reicks Kiflemariam: In many ways, it was the one-two punch of deregulation that allowed all sorts of speculation and paper-shuffling which provided financial predators many ways to grab for great gobs of money while owning NOTHING, and Bush policies which were (and still ARE) decimating Americas middle class, deporting its jobs, wrecking job security, doing everything possible to eliminate unions, freeing companies from any responsibility to provide pensions or health care insurance for their workers. Bush policy consisted of allowing a thousand ways for very wealthy folks to sell the golden egg to each other, including trying to make money by betting the next time the egg sold it would be for less money ... and meanwhile Bush policy was relentlessly working to kill off the goose (the middle class WORKERS who are the true economic engine of this country). It cannot be discounted that Americas economic strength was sapped by running up our debt while giving enormous tax cuts to wealthy folks and businesses, undermined by allowing such practices as changing company ownership to offshore accounts (to further avoid tax liability), and fighting endless foreign wars with leadership which felt no need to define victory or establish reasonable strategy. Subprime loaning by FM/FM was part of the problem with the specific meltdown of financial institutions today, but by all accounts their participation was only around 20%. This means 80% of the problem originated elsewhere, in independent financial institutions operating under Bushs overweaning policy of deregulation and getting government off business backs. The GOP ran this nation and set its policies for the first SIX YEARS of Bushs terms in office, and in the last two years set astronomical records for filibustering Democratic efforts at correcting/setting any NEW policy. They set up our economic environment (of trickle down with NO governmental oversight of the markets), and then obstructed any changes. THE GOP IS ENTIRELY RESPONSIBLE for the economic woes of today. Whenever a Republican says, I know what to do to make America prosperous ... they are LYING. They know, give them their due, how to make already wealthy folks fabulously wealthier. Thats for sure. But the ways that they do this destroys the economy for the rest of us. Republican policy is disastrous for the health of this nation. This is now proven beyond any possible doubt.
Posted on: Sun, 13 Apr 2014 17:06:01 +0000
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