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Posted by: Spadecaller 10 months, 3 weeks ago
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Spadecaller10 months, 3 weeks ago
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Some of us predicted this crisis several years ago. While it does not seem to be the time to point fingers, there is a problem when nearly half the people on the burning boat refuse to act.
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And, when half of Washington refuses to cooperate with addressing this crisis and who bash Obama for his efforts, it leaves little choice other than to go to the American people. Americans need to be reminded of the facts. How did we get here? How did this boat get lit on fire?
This mess was brewing for a long time.
During Bush's second term, his administration actively interfered with states that attempted to enforce their own state lending laws.
Bush & Co. used the Office of the Controller of the Currency to sue states like New York to stop them from going after predatory lenders. This is what led to the mortgage crisis and the banking crash.
Bush Jr. is not the first Bush to get "hands on" involved in shaping the lending industry to his will.
Many know that one of this brothers, Neil, was part of a spectacular Savings & Loan failure in the 1980s. (Silverado)
What far fewer people are aware of is how deeply the CIA, organized crime and, George Bush Sr. were involved in the Savings & Loan disaster which caused US taxpayers an estimated trillion dollars plus.
Their scam works as follows: an organized crime group takes over a business, borrows as much as it can in the business' name, fails to pay vendors and then disappears with all the cash.
The Bush family and its associates in organized crime and the CIA have figured out how to run this scam on a multi-hundred billion dollar level using the entire US banking system as its playground.
When you consider that Reagan was probably out of it from Day One of his term and that Bill Clinton is a close associate of George Bush Sr., the Bush crime syndicate has been influencing when not outright running the executive branch continuously since 1980, which, perhaps not so coincidentally, marks the earliest days of the credit bubble the economy is now having serious trouble digesting.
When the Republicans and some Democrats like Lieberman who are owned and paid for by the lobbyists (Bush cronies), you can understand why they are bashing Obama's stimulus plan.
Do you really think the oil companies want alternative energy jobs created? Do you really think they want American auto companies to build fuel efficient, solar, or electric cars? Stop and think about which companies are flourishing in the midst of this crisis. Its the oil companies; they are making record profits while the nation is crashing. Do you really think the military industrialists want peace?
We better start pointing fingers. Perhaps a slap in the face will wake up some of the Americans who ignorantly are supporting these crooks who ignited the boat that we are all sitting in - the boat that is burning. To get everyone to grab a hose may require a few slaps in the face and a few gulps of water before we began acting responsible.-
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slate10 months, 2 weeks ago
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(((And, when half of Washington refuses to cooperate with addressing this crisis and who bash Obama for his efforts, it leaves little choice other than to go to the American people. Americans need to be reminded of the facts. How did we get here? How did this boat get light on fire?)))
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Spade you know that matches from the Republican and Democrat matchboxes lit this fire, which has been smoldering since the 1970s.
Though it’s only my ‘take’ on why I think the Republicans aren’t voting for this. I will try and explain why I think the Republicans aren’t voting for this bill. It’s just my own personal opinion, right or wrong, but it’s how I see it, so don’t do the usual bashing because of an ‘opinion’.
It's not that Republicans don't want to cooperate. They know that the Democrats have enough votes in both Houses to pass this bill and everything they want in the future without one Republican vote. The Democrats don't want Republicans to be in on the bill because they love Republicans or bi-partisanship. Quite the opposite is true, the Democrats hate Republicans with all their souls, and it’s quite evident.
No, they don’t want to share the ‘glory’ with the Republicans if this thing is a success; they want the Republicans to share in the backlash if it fails, and take the credit if it passes, since they are ‘in power’. -
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slate10 months, 2 weeks ago
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The Republicans are simply giving them what they want and have wanted for the last eight years, ‘ownership’. They (Democrats) have the votes now and can step up and make the decisions on their own, without and Republican help. Their problem is without a way to blame the Republicans for the outcome if it turns out badly they may end up politically hurt in two years and see their majorities disappear. They wanted the ‘power’ now they have to live with it. That means taking the credit if it appears their ideas are working (which as an American can only hope they do), or take the blame if the opposite turns out to be true.
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Of course, if it goes good (as I hope it will) the Democrats can come to us in two years and ask us for even more support with our votes. If it fails, the Republicans can say the Democrats failed and they (republicans) had nothing to do with the bill(s).
It’s a political gamble on the Republicans side, but since it matters not if they vote for a bill or not that will pass regardless of how Republicans vote, it’s time after all the Rhetoric of the Last six years from the Democrats denouncing Republican leadership to step up AS THE MAJORITY and lead themselves and be accountable for their actions without the benefit of blaming the Republicans as they as so apt to do on any and every issue or outcome of any and every political choices Republicans make.
Of course, this long smoldering problem finally happened on Bush’s watch and he needs to take the responsibility for whatever actions his administration did to help push us over the edge, these kinds of economic falls happen not in short periods of time (though that’s how they appear to happen), they happen over long periods of time, and both parties are usually culpable to one degree or another.
We also know that Obama inherited this mess and he’s going to have a long row to hoe and I wish him well. Failure is not option.-
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amazed10 months, 2 weeks ago
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and what slate didn't say, but many of us believe is that, while we hope like hell whatever gets passed really does do the trick, we don't believe that either form of this bill is the way to go.
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This does NOTHING to encourage the return of manufacturing and industry to the US. This does NOTHING to really help struggling small businesses. Okay, I'm not going to have to pay fees for and SBA loan. Here's a newsflash -- you can't get an SBA loan (or much of any other kind of loan) to pay your taxes.
The idea of suspending payroll taxes could really help me in my business and make it more likely that I can continue employing the people I've got. Hell, I might even be able to get caught up with the taxes that I couldn't pay from before.
Below, someone (might have been Slate) had some good suggestions for making the US palatable for industry again. That's the type of stuff we need.
As far as the cry about "we already tried tax cuts and looser regulations and they didn't work -- that's what got here in the first place". Actually, no. There has been no shortage of regulations during the last eight years, any more than the eight years prior to that. What was missing was any oversight or enforcement of these rules when it came to the big players. The little companies were still getting squashed by them.-
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amazed10 months, 2 weeks ago
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How about REASONABLE regulation and a return to competitiveness? Then using some of this bailout money to entice industry back to this country?
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Please explain to me how borrowing an additional two trillion dollars (950 billion for the bailout, 1 trillion that Geitner says he's going to borrow that doesn't even NEED Congressional approval ) is going to "support our currency on the world market"?
There is nothing in that bill that address the fundamental problem with our economy -- and that is that we don't produce much of anything anymore. GM and Ford both have thriving overseas divisions with autos that get better gas mileage than the hybrids that are being sold here. Why? Because US regulations will not allow them to be sold. These cars are not just being sold in third world countries, they are available in Europe -- so they're good enough for the Europeans (which seems to be what so many of the US citizens aspire to) but not good enough for here.
Get rid of the Fair Labor Act which will likely completely finish off American manufacturing.
And, you know what? Because tax cuts (especially the payroll tax cuts ) will allow more people to keep their jobs and increase profitabiltiy of industry, yeah, that might do as much or more to support our currency on the world market as anything in this bill.-
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jovial10 months, 2 weeks ago
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It's still a fiat currency. It will fail without something to support it. Cutting corporate taxes will stave off some layoffs, but isn't a long term solution. I don't think you have watched the videos. This is expalined therein. I've been talking about corporate taxes and you're talking about payroll taxes. I fear we're not even on the same page.
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Engnr10 months, 2 weeks ago
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Jovial
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Maybe you are not seeing the bigger picture. Government Spending and Service Jobs do nothing for the Gross Domestic Product (GDP). Only Manufacturing and exporting does. So you can pour a Gillzillion dollars into the economy and ultimately it will have no effect. The only thing our Govt can do is provide an environment that will help companies thrive. Anything else is money wasted.-
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jovial10 months, 2 weeks ago
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Not true! Building a high speed railway that can transport goods quickly from factory to seaport, provides jobs and provides incentives for businesses to locate along that route. Providing healthcare for people takes that burden off the companies that have to chip in and also gives an incentive. Providing money for students to excel, provides candidates that provide valuable R + D like that is what's happening in our Universities. Don't say it's wasted, because you just don't want to pay it.
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jimdoze10 months, 2 weeks ago
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You sure did "take ownership", Jovial!! Big Time!! By the time the dust settles, there will be little left owned by the private sector. Therein may lay the seed to the next great problem(s)... and most probably the quick undoing of the Democrats.
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