Why Is The GOP Against Financial Reform??? (Congress, health care, Obama)
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Republicans believe the fund would "perpetuate government intervention" in industries similar to the bailouts or takeover of some aspects of the banking, automobile and other industries.
Whatever political capital the GOP gained by opposing health care reform could be sunk if they oppose financial reform. Not many rational people believe banks should be free to do what they did to us again.
Whatever political capital the GOP gained by opposing health care reform could be sunk if they oppose financial reform. Not many rational people believe banks should be free to do what they did to us again.
Political winds are very fickle.
But the banks didn't do anything to you without government guidance. To be more specific, see how Barney Frank and some others in Congress controlled the home lending banks.
Republicans believe the fund would "perpetuate government intervention" in industries similar to the bailouts or takeover of some aspects of the banking, automobile and other industries.
Maybe Blind Sniper likes the idea of $50 billion ready cash set aside to bail out bankers and wall street again? Look at it this way, with the taxpayer cash already set aside there won't be a reason to involve congress and the spending (giving away) taxpayer dollars.
Sounds like a sweet reform and if I were a wall street banker or brokerage house I think I would be pushing hard for it. Kind of like Soros is. You know, George Soros the billionaire buddy of Obama's?
Let's have the reform but dump the idea of the free $50 billion.
$50 billion... with a population of 812,000 people that's enough money to give every single man, woman, teenager, child, toddler and infant $61,576.00 in cash! That's a lot of money. Republicans want to know "for what?"
When those capitalists are your largest contributors I expect you can count on their support when pay up day comes. Repubs won't bite the hands that feed them.... If you close the loop holes and hold the money movers accountable they won't be able to give them those huge donations...
I think the banks should be required to gradually fund a bailout pool that would finance the future bailouts that will probably happen eventually.
Bailouts and banking crises are probably an unavoidable byproduct of our modern financial system.
So unless we actually want to get serious, and split up the big banks into more manageable chunks, and forbid them from re-merging, a bailout pool is the best option.
But the banks didn't do anything to you without government guidance.
I'm not sure what this means, to be honest.
The big banks tossed around CDO-squareds and other "exotic credit products" using tremendous amounts of leverage, then went screaming and crying to the government when their bets went sour, and their counterparties couldn't pay out on their credit default swaps.
I don't think they were forced to do any of this by anyone; it was their own brilliant "financial innovation" that led to the actual crisis.
When those capitalists are your largest contributors I expect you can count on their support when pay up day comes. Repubs won't bite the hands that feed them.... If you close the loop holes and hold the money movers accountable they won't be able to give them those huge donations...
Follow the money!
Both the Republicans nor the Democrats will bite the hands of those who support them. If it were only the Republicans, then they could pass any bill they wanted in Congress. But today that's not the case since the Democrats control Congress. All the Republicans can do is oppose bills brought to the floor, but that's all.
Just look at how long it took for Obamacare to pass. The problem wasn't that the Republicans opposed Obamacare, but that the Democrats themselves were divided. The Republicans, at least in relation to Obamacare, were like a gnat biting on a donkey's (the Democrat's) behind. They had no power, and they still don't.
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