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Thread: The REAL Party of the RICH

  1. #1
    Banned Eric Stoner's Avatar
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    Default The REAL Party of the RICH

    Read Matt Taibbi's latest piece in Rolling Stone and THEN tell me that the Republicans are : "The Party of the Rich".

    Who kept Dodd- Frank from doing anything to reverse the repeal of Glass- Steagall ? The Dems.

    Who kept it from doing anything meaningful to control derivatives trading ? The Dems.

    Who stopped Carl Levin and Jeff Merkley from inserting the Volcker Rule into Dodd- Frank ? Dodd and Wall Street stooge Tim Geithner . The Volcker Rule would have permitted gambling on things like credit default swaps BUT would have made institutions doing so unable to pony up to the Federal Reserve for cheap cash. There is neither a percentage nor a dollar limit on proprietary trading by commercial banks. They are STILL eliglible for Federal bailouts AND continued access to the Fed's Discount Window.

    Who squashed the Lincoln Rule that would have forced commercial banks to spin off their derivative operations or they'd have to forego easy access to Fed cash and other bailouts ? The Dems. In fact of all people, it was that great populist Barney Fwank. AFTER it actually managed to pass the Senate.

    Who sees to it that hedge fund billionaires get taxed at the lower Capital Gains rate ? Chuckie Cheese Schumer. Btw, he is notorious for getting on stage with Lloyd Blankfein of Goldman Sachs and singing nostalgic furniture store jingles, like for Castro Convertibles. He is known among his DEMOCRAT Senate colleagues as 'The Senator from Goldman Sachs".

    Who stopped any effort to downsize too big to fail banks ? The Dems.

    Who rejected a ban on "naked default swaps" i.e. betting on someone else defaulting on a lousy loan you helped sell them ? The Dems.

    How and why did all of this happen ? Well Taibbi obviously couldn't bring himself to compare Wall Street fundraising by the Dems vs. the Republicans. Up until this year, the Dems, including Obama raised far more cash from Wall Street bankers and hedge fund managers than the Republicans did.

    The tragedy is that while the Dems are busy patting themselves on the back for passing the "largest finacial reform bill since 1933" they in fact have set the stage for further speculative bubbles and bursting of same. And further bailouts paid for by the U.S. taxpayer. Dodd- Frank does NOTHING ; zero, zip, nada to address and prevent the underlying causes of the recent bubble burst and credit crisis.Not without a Volcker or Lincoln Rule it doesn't. At best, it has some good things in it to treat SYMPTOMS. It does not do a thing to get at any of the root causes of the latest financial meltdown. In fact, it almost assures that there will be another one.



    Who are some of the biggest defenders of perpetual trusts ? The Democrats.

    Who opposes any effort to tax municipal bond dividends ? The Dems.

    After reading Taibbi's stuff ( a guy who HATES Republicans btw ) if you still have any doubts, wait until you read Charlie Gasparino's "Bought and Paid For " which comes out on October 5. I have an advance copy and it drives the final nails into the coffin of the ridiculous myth that the Republicans are the "Party of the Rich".
    Last edited by Eric Stoner; 08-24-2010 at 10:38 AM.

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    Default Re: The REAL Party of the RICH

    ^^^ arguably the facts of these situations have been available 'under the hood' for years now ... but between mainstream media and washington 'opacity' the only outlets for such information have been successfully branded as 'ideologs' or 'tin foil hat' wearers. Do you expect that situation will finally change ? I don't !

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    Banned Eric Stoner's Avatar
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    Default Re: The REAL Party of the RICH

    Quote Originally Posted by Melonie View Post
    ^^^ arguably the facts of these situations have been available 'under the hood' for years now ... but between mainstream media and washington 'opacity' the only outlets for such information have been successfully branded as 'ideologs' or 'tin foil hat' wearers. Do you expect that situation will finally change ? I don't !
    It IS changing. Slowly but surely. Just compare the ratings for FoxNews vs. MSLSD. Look at the collapse of Newsweek. How soon we forget such things as the fact that they had the Monica story BEFORE Drudge but wouldn't run it or NBC sitting on the Juanita Broderick story for YEARS.

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    Default Re: The REAL Party of the RICH

    Rotflmao! Less than 1% of Americans watch Fox News, the most dishonest news source there is.

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    Default Re: The REAL Party of the RICH

    Quote Originally Posted by eagle2 View Post
    Rotflmao! Less than 1% of Americans watch Fox News, the most dishonest news source there is.
    EAGLE ! Welcome back to the arena !

    Please define or describe an "honest" newsource ? or just name one ? Media Matters ? Rachel Madcow ? Keith "Countdown to No Ratings" ? Newsweek ?

    Is Fox slanted to the right ? Of course. Just like MSLSD is blatantly pro-left. Have you watched Chris Matthews desperately scrambling to try and help the Dems limit their losses in Congress ? It's disgusting how blatantly partisan he is.

    Is Hannity just as bad ? Of course. I can't stand him.

    1 % or not, Fox gets more viewers than any other cable news outlet and often gets more than Katie Couric and CBS.

    Here's the crucial difference : Fox always airs the other side. They'll have a Lib ( at least invited ) to counter every conservative view. Contrast that to MSLSD whose idea of a "fair and balanced" panel is two Libs nodding their heads at each other. Or Olberman who NEVER, EVER has anyone on his show who disagrees with him; or Madcow who will only do it if she can ambush somebody ( I know, I know, Hannity does it too . One reason of many why I don't like him.)

    Matthews never has conservatives on his Sunday show; Meet The Depressed never has more than one and This Week often leaves George Will as the only non-left voice.

    Read the Times Editorial page lately ? David Brooks is the only conservative and his bona fides are shaky.

    In the recent Sherrod mess, Fox came out of it smelling like a rose. They are the only ones who went slowly and aired the WHOLE story.

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