New Political Rant

[MalibuGuru]

WASHINGTON 1999 (CNN) -- The biggest change in the nation's banking system since the Great Depression became law Friday, when President Bill Clinton signed a measure overhauling federal rules governing the way financial institutions operate. opening the way for a blossoming of financial "supermarkets" selling loans, investments and insurance. Proponents had pushed the legislation in Congress for two decades, and Wall Street and the banking and insurance industries had poured millions of dollars into lobbying for it.

Glass-Steagall Act was enacted by Clinton. Bush came into office a year later, and being the idiot he was decided to make it even worse in 2002 by pushing "easy home ownership for minorities". The brightest minds on Wall street saw an opportunity, assisted by brokers, agents, house wives, ex-felons and every other kind of looser in a race to the top.

Obamas life has been about fomenting class warfare, until he started running for prez. McCains has been about service to his country and personal sacrifice. Don't get me wrong. I believe Obama will win. The question is....which Obama will we get?

[jp5]

It's all about greed, selfish greed.

[boggsman1]

Two things for you Bard. First of all , on Thursday the run on the money market had begun, by Friday, your ATM would have been shut down. The DEMs have no leverage to do anything.
Secondly McCain's only salvo last week was to fire Chris Cox and replace him with Andrew Cuomo . RU kidding, that is the most reckless comment I've ever read. Obama will employ Tim Geitner, Bob Rubin, and other grown -ups to right the ship and return the USA to the people. Im not sure what McCAin would do , I do know if he picked Mitt Romney, he would be in front of the cameras instilling confidence in the people, but he didnt , did he?

Boggsman

[boggsman1]

Stevebard, another little thing. Please get your facts straight. Glass-Steagall was enacted in 1933, during the depression to curb risk and specualation. It was repealed by Clinton, in the name of free markets, we all know what happened next. The blame game is one certainty during times of crisis, that is concensus.

Boggsman

[nealpar]

[beallmd]

"Greed is good! Greed will save this country!" Gordon Gecko-he actually said Company not Country...But you get the idea. The amazing thing is we still, even right now, have an economy that is the ENVY of the world! Europe has much worse problems and Japan was supposed to overtake us-they didn't. China will overtake us; they won't. China has incredible economic growth but when the average person makes 100 bucks a year and there are a billion of them no wonder. But they are NO Threat to our economy. Finally the good days are all gone, hogwash, Buffet made a very smart deal today and made tons of money on gold/silver and oil. Bill Gates is one of the richest men on earth and he has a lousy operating system. The two YOUNG Stanford grads at google are each worth 17 billion dollars. Yeah it's all over, no one in the USA will ever succeed again. The economy will rebound and growth will finally right this ship, always does, but I like Mac's original post-Infrastructure is a great place for investment and spending has gone way way out of countrol. The last time Newt and Clinton slowed spending in 1994 the market skyrocketed. and the Evil Bush's tax cut had the same effect; see the chart for yourself; http://moneycentral.msn.com/investor/charts/chartdl.aspx?D4=1&ViewType=0&ShowChtBt=Refresh+Chart&DateRangeForm=1&ComparisonsForm=1&D5=0&CE=0&Symbol=%24INDU&D3=0&C9=2&DisplayForm=1&CP=0&PT=11

[keycocker]

Was that the correct link? The chart shows a steady rise through the Clinton years and then a big decline from the time of the tax cuts, which reverses after 4 -5years, finally reach pretax cut levels in Jan of 2006

[boggsman1]

Beall. I love your rap until you get to the Bush tax cuts. They were coincident with the flood of equity extraction from real estate and a 300BP spike in GOVT spending, so its hard to argue cause and effect.

Boggsman

[MalibuGuru]

Repealled Glass-Steagal excuuuuuuuuse me.

The point is Dems have had their hand in all of it. I personally believe McCain is a better man than Obama. He certainly will be a better military leader which is what the commander-in-chief's 1st priority is. It's not the bail-out-in-chief, it's not the welfare chief, it's not the blow job chief, it's not the pay your mortgage chief! McCain has demonstrated his honorable intent throughout his life.

If we put a guy in charge who is unrealistic about N. Korea, Iran, Russia, and China with nukes proliferating around the world it doesn't matter that we all have free health care, or CEO pay has been capped.

It could get windy though if Israel nukes Iran, or Pakistan nukes India!

When Bush said (referring to Putin) "that I looked into his eyes and saw his soul" McCain said "I looked into his eyes and saw KGB" Obama was hanging posters in Chicago. Palin is governor of our largest state. One out of only 50 governors. I would take her any day over Obama. The libs have done a good job of making her look stupid. It is too early with either Obama or Palin to know what truely each has in their soul. At least with Biden and McCain we have a better perspective and more evidence. (but we're not voting for Biden, are we?)

[nealpar]

The election is about 6 weeks away. Most rational minds are made up. No amount of posturing or repeating pre-packaged, pre-digested (chewed up and excreted) nuggets of propaganda have any persuasive effect, especially on a windsurfing site.

Someone in another topic stated naively that Palin is no threat as she will just defer to McCain. Not if McCain is 6 feet under, she won't. Then who will be the leader of the world's allegedly most powerful nation? (emphasis on the word allegedly) A soccer mom whose 5th child has Down's syndrome. This is a woman who is unaware that she's bitten off more than she can chew.

The blame-game is popular with those who are too lazy to think of a solution.