Monday, August 15, 2011

Who do you trust more to address the current US financial crisis, Democrats or Republicans?

Deregulation definately screwed the pooch. The democrats were, and are, still are caught in a vise. Being against 'regulation' means that you're 'anti-business' according to right wing radio and FOX 'News'. If you're against regulation then they call you a 'liberal', or a socialist. Most democrats in the second Clinton administration understood that being 'against regulation' would be used against them come election time. I believe the reasoning here was to p this legislation and hope for better political times so it could be looked at again. ...before it was too late. Now it is too late! There were also many democrats that believed de-regulation was a good idea. It wasn't! In the end deregulation of mive corporations means that the system will be gamed, corner cutting will be okayed, theft will be justified and bad business will be the same as good business as long as the money keeps rolling in. Now we find ourselves between a rock and a very hard place. If a republican votes for this bailout, an act that may not even be constitutional, what does that say about their free market beliefs? Talk about a flip-flop! If a democrat votes for it and the bailout doesn't work what can the party say to the american people? Whoops? If it does 'work', the rich will remain rich and the american wage-earner will do without for a long time to come as inflation will tear the heart out of everyones paycheck. That's political bad news for everyone. Personally I'd let these folks go belly up, and establish a new National Bank run by the feds. If it's our money, we should start off fresh with no debt. We'd have sound money and as much oversight as needed. There would be enough cash available to forestall a depression. We'd be well on our way to solving this situation. That won't happen, but it should.

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