Once again, government fails us


7
EdSeptember 29th, 2008

Once again, government fails us

I can remember getting in fights in school and both myself and opponent getting in trouble.  We would point the fingers at each other, but in the end, we were both in trouble.  I’m sure that image is not solely in my mind this evening as the Dow closes with the single biggest drop in history, and our two political parties sit pointing the fingers at each other.


There is little doubt who most hold responsible for getting us into this mess.  8 years of George Bush has nearly destroyed this country.  The damage cause in one administration is far grater than even the biggest liberal would have imagined.  A war that has gone on longer than WWII, spying on Americans, hold prisoners out of the country without cause, failed diplomacy with just about every country in the world, and now the cherry on the Bush Crap Sundae, our economy is falling apart in front of our helpless eyes.  Helpless because those we put in charge of looking out for us cannot get past their differences.  

Even though I, like most Americans, place the blame of the current economic crisis almost exclusively on the shoulders of George Bush, I’m not letting the Democrats off on the failure to succeed in a bail out action.  Today, moments before the bill was to be put to a vote, Nancy Pelosi, Harry Reid, Chris Dodd, and other Democratic leaders, had to roll out a complete partisan bashing against the Republicans.  What benefit was this speech supposed to have other than trying to get Barack Obama a few votes?  It was not in the best interest of the country.  Shame on the democratic leaders, who often sit back passing judgement on an administration like a pseudo intellectual nodding their head at correctly answered Jeopard questions.  It’s time to get off your high horse and get to work.  For every raping of the constitution by the Bush administration, there is a Democrat standing by doing nothing.  I sometimes wonder who is worse.

And for you dim-witted, greedy, whinny Republicans who are obviously in a crap mode because you know the blame is on you by this country, suck it up.  You put forward this idiot that will likely be known as the worst president in history, and now you want to act like you’re new to town.  You guys took a big crap on the carpet named George, and now want to act like you don’t smell it.  And have you learned?  Well let’s take a look at the John “The fundamentals of the economy are strong” McCain, and lets not forget the Alaska Mensa member he picked as he running mate.  As a soldier, I believe that John McCain had character at one time.  It’s a shame, and a testament to the power of Washington that it was ripped out of him for the sake of fitting into the political process.  Ron Paul may not be a real presidential candidate, but he is without a doubt REAL.  

To wrap up the day in Washington; everyone’s working and we actually get something done.  I don’t even want to guess how horrible this plan is, but at least it’s A plan.  Then the Democrats decide to make a partisan speech, which offends the Republicans, so the Republicans decide to vote against the plan!  This tells me a couple of things.  First the Republican part is a group of collective little bitches.  Second, neither George Bush or John McCain have any real control over their party.  And third, the Democrats don’t know when to just shut their mouths and move forward as one.  They are both equally responsible for this.

I’m an Obama supporter who has taken a great interest in Ron Paul this election.  And this whole fiasco has me thinking a lot about Ron Paul’s message.  This government is broken.  We cannot get one plan passed, even while the world spins out of control.  

Even though I blame both, and even though I’m starting to very much agree with Ron Paul, this is a time where we need a leader.  And since we seem to be lacking one, this is when Barack Obama needs to start pulling things together.  Bush and McCain both approved and urged their party to support this plan, to no end.  This would be the time for leadership to be shown.  

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    [...] Im an Obama supporter who has taken a great interest in Ron Paul this election. And this whole fiasco has me thinking a lot about Ron Paul s message. This government is broken. We cannot get one plan passed, even while the world spins …[Continue Reading] [...]

  • Ron M.

    I stopped reading at the second paragraph. You apparently haven’t done even the most basic bit of research that shows clearly who is at fault for this problem. Us whinny republicans warned about this problem in 2004, and if you get your head out of the sand you will see video proof of the warnings be dismissed by very prominent democrats. Sorry to disappoint you, but you are clearly wrong. The financial crisis lays squarely on the democrats who blocked efforts to fix this problem.

  • http://www.filthylucre.com Ed Shull

    Ron – Interesting view point. You should offer up some details on how the Democrats are responsible for the problem. I agree they are part of the problem, but it looks to be more about letting the banks lobby for deregulation through the Republicans.

    Wrapping up the sub-prime mortgages into securities, then passing them through the market was something we should not have allowed to happen. Of course when these mortgages start to go bad, no one wants to buy them, and the whole thing falls down like the shaky house of cards it was.

    Last I checked, deregulation is a Republican specialty. And now the only ones sticking to their free market ideals are true Republicans like Ron Paul.

    That’s my point, but I would really like to see how yo up pin this on Democrats.

  • Charles Powell

    Ed, I’ll give you some details on how the Democrate are responsible. The lobbying for the deregulation of the financial structure did not go thru the Republicans.

    Laws, originally evolving out of the New Deal legislation were written in response to the great depression. Those laws once protected the American financial system. Starting in the 1990s, in response to intense lobbying efforts by the financial industry, those laws were stripped away. The most important one was Glass Steagall which separated commercial banking from the type of investment work of a stockbroker. Glass Steagall was signed out of existence in 1999 by President Clinton and less than 10 years later the entire financial system is bankrupt. Another law, known as The Uptick rule, prevented companies from crashing due to large scale shorting of company stock. A companys stock could not be sold short as long as it was in continuous decline. Short sellers had to wait for an uptick in the stock before shorting. The Uptick Rule ended in 2007 just about one year ago.

    The end of the laws protecting the American public from unscrupulous speculators disguised as bankers caused changes in the way our banks do business. The banks decided that simple banking, that is loaning money at interest, was not profitable enough so they began investing in risk paper. This changed them from banks into something akin to casinos. Now that the gamble has finally failed these new casinos are asking the American taxpayer to pick up the tab for their greed and excess.

    Now, with that said. Am I in any way releasing the Republicans from theit responsibility in this? NO! They controlled the House and Senate from 2000 until 2004. Not one time during that period did they lift one finger to undo a single bill that was passed during the Clinton Administration.

  • admin

    @Charles – First off, thank you for adding such a great response. Few people have as intelligent things to say.

    I’m no where near knowledgeable enough to debate Glass-Steagall with you. I never even heard of it until today (although I did look it up to make sure you weren’t just making things up). From what I have read, it certainly looks like you’re not alone on your opinion. It has been interesting research that has kept me up past 4 in the morning.

    I certainly do agree that Clinton may very well be one of the catalyst for this. It’s ironic that he really wants to boost about how superior he was to Bush in economics. But there is also another name that pops up as the true catalyst of this. Unless I’m mistaken, it was Phil Gramm who got this whole ball going. Phil Gramm is of course linked at the hip with John McCain, and even helped write his economic policies.

    So, I’m curious as to where this puts your vote this election? Do you side with the Democrats, or go with McCain, who will likely appoint Phil Gram to a cabinet level position to help control the U.S. economy?

    I would also love to get your opinion on the FairTax post I wrote a while back. Please check it out if you get the chance.

    http://www.filthylucre.com/fairtax

  • Charles Powell

    Thank you for the compliment.
    Yes, you are correct about Phil Gram authoring the repeal of Glass steagall known as The Gramm-Leach-Bliley Act which allowed commercial and investment banks to consolidate which passed in Congress with a 343-86 vote in the House of Representatives. Which at that time the House and Senate were Democretic controlled.

    Again I say though, I am in no way pointing fingers. There is plenty of blame to go through out Washington. As far as Clinton wanting to boast about his superiority over Bush, He inherited a strong economy and was at least smart enough to leave it alone and let it play itself out. I’ll give him that.

    Right now my vote in November is going with Chuck Baldwin of the Constitutional Party. This depending how close the polls are then. If I have to I’ll vote for McCain only for the reason of keeping Obama out. If for no other reason we cannot afford even 4 years of his tax and healthcare policies.

    America has to wake up and smell the roses. We have the perfect opportunity to completely blow out Congress this year. I support this cause seriously. we also need to start getting on our State Legislatures to start legislation to repeal the 17th Ammendment so we can get the checks and balances system back in Washington and move on to take the Country back from the burocrats that have taken over.

    Will have to check out your Fair Tax article. There are a few things I’ve heard about the Fair Tax I like.

    And by the way, I am not as smart in all this as you may think. I just do a lot of reading and research before I open my mouth. People just need to know the truth.

  • admin

    @charles – Thanks again for the great comments. I look forward to hearing your viewpoint on FairTax


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