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I'm a left leaning Indie and although I've been disappointed with the obvious influence the banksters have over both parties, I've been particularly disgusted by the party of no clue.
But complacency is a female dog.
If the Dems feel voters have no other alternative, they'll settle for half a** reform.
In order to get a better bill, there has to be competition.
This is the perfect chance for true GOPers and conservatives to redeem the image of the Republican party of old.
Expel the lunatic fringe cult of Beck and the Christian fundamentalists and restore the party back to its roots.
"The most powerful -- and frightening -- part of the book is Johnson and Kwak's breakdown of how, over the last 30 years, Wall Street has come to so thoroughly dominate American politics.
Consider: from 1974 to 2006 the average amount of money it took to get elected to the House went from $56,000 to $1,250,000. And the financial sector was front and center in this explosion -- it was the top contributor to political campaigns over the last two decades.
As Dick Durbin said of the banking lobby last April, "they frankly own the place." And, with financial reform on the agenda, the flow of money has only increased since then."
"Wall Street’s purpose, you will recall, is to raise money for industry: to finance steel mills and technology companies and, yes, even mortgages. But the collateralized debt obligations involved in the Goldman trades, like billions of dollars of similar trades sponsored by most every Wall Street firm, raised nothing for nobody. In essence, they were simply a side bet — like those in a casino — that allowed speculators to increase society’s mortgage wager without financing a single house."
"Today's passage of Sen. Blanche Lincoln's tough derivatives bill may point the way forward for the president. Lincoln's committee beat back a swarm of 1,500 lobbyists to pass that amendment. Rather than allow his treasury secretary to resist stronger derivatives rules, the president could embrace these rules. He has already said he will veto a bill without strong derivatives protection. Now is the time for the president to get even more specific on what he needs to see in a bill. He has allowed Chris Dodd to play the same role in this area that Max Baucus did in health reform, and it has failed dramatically. He needs to draw a line in the sand tomorrow and be prepared to defend it."
And there's still no mention of putting Glass-Steagall back in place and undoing what Gramm did many years ago.
Actually, the dudes that have talked about bringing back GS and busting up the banksters, have been,....., gasp,......, Republicans (they may deserve to be called by that proud name).
"Since the Reagan era, politicians from both political parties have sincerely believed that what is good for Wall Street is good for America. The subprime mortgage monstrosity and Great Crash of 2008 put cracks in the foundation of that ideology. But the process of demolishing it may very well take longer than the legislative cycle that will end with the November elections.
We need a strong Wall Street reform bill. There is no excuse for any politician from either party to be standing with bigwig bankers against the rest of the country. And with two-thirds of the nation supporting reform, any political party that throws in its lot with Wall Street will pay a major price come November. No amount of Wall Street campaign cash can counter the voter outrage over bank bailouts and bonuses."
I'm a left leaning Indie and although I've been disappointed with the obvious influence the banksters have over both parties, I've been particularly disgusted by the party of no clue.
But complacency is a female dog.
If the Dems feel voters have no other alternative, they'll settle for half a** reform.
In order to get a better bill, there has to be competition.
This is the perfect chance for true GOPers and conservatives to redeem the image of the Republican party of old.
Expel the lunatic fringe cult of Beck and the Christian fundamentalists and restore the party back to its roots.
I'm a conservative leaning indie and you think that the GOP should expel Beck's facts which have still not been disputed by anyone..like Uncle Al Gorey's financial interest in carbon credit trading?? I don't think so... I guess I can't blame you for being afraid of the truth and creating a diversion...
I'm a conservative leaning indie and you think that the GOP should expel Beck's facts which have still not been disputed by anyone..like Uncle Al Gorey's financial interest in carbon credit trading?? I don't think so... I guess I can't blame you for being afraid of the truth and creating a diversion...
I know its really hard for you to believe in anything Beck has not indoctrinated you to believe but Al Gore is not the only one that has ideas on how to build a renewable energy market.
Something to keep in mind for those that venture out of Glen Beck's alternative fantasy world into the real one.
"The top five banks dominate the derivatives trade, accounting for 97 percent of banks' overall derivative holdings, and approximately 90 percent of the overall financial derivatives market.
It is true, as the financial lobby argues, that derivatives can serve a useful social purpose in enabling farmers and firms to hedge protect themselves against unexpected future events. But the concentration in the financial derivatives trade shows that the vast majority of what is going on is speculation."
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