glass-steagal act is no more and neither is lehman brothers
i've got an hour or so before going to airport and since the computer was alreay on.....
i think i hit on something my last blog; one of the big problems facing americans is the inability of certain republicans to EVER admit they were wrong. in the face of overwhelming evidence they refuse to see that we are in an illegal and IMMORAL occupation of iraq, that our financial markets are crumbling verily as i write this, more people are put out of work EVERY DAY and we have a health care system that is the most expensive in the world and some 30 million of us don't even have health. 401K's are being decimated by the latest debacle on wall street and still they plan on voting for john mc cain. why? because not to would be to admit they were wrong.
which brings us to the GLASS-STEAGAL ACT OF 1933. something i am sure all of you are familiar with. lol. the GS act was put in place to regulate wall street to prevent melt-downs such as we are seeing now. the GLASS STEAGAL ACT WAS REPEALED IN THE 90'S WHEN PHIL GRAMHAM (MC CAIN'S ECONOMIC ADVISOR---YOU KNOW THE ONE WHO SAID AMERICANS ARE WHINERS) THEN HEAD OF THE BANKING COMMISSION LEAD THE PUSH BY REPUBLICAN SENATORS, INCLUDING MC CAIN, TO DO AWAY WITH IT SO INVESTMENT BANKERS COULD TAKE ON MORE RISKY LOANS AND INVESTMENTS. over and over, democrats warned that this could lead to disaster. hmmm.
on a lighter note, karl rove said the mc cain ads have gone "too far." that is akin to goebbels calling someone a liar.
so, for you republicans out there...have a freedom fry.
i think i hit on something my last blog; one of the big problems facing americans is the inability of certain republicans to EVER admit they were wrong. in the face of overwhelming evidence they refuse to see that we are in an illegal and IMMORAL occupation of iraq, that our financial markets are crumbling verily as i write this, more people are put out of work EVERY DAY and we have a health care system that is the most expensive in the world and some 30 million of us don't even have health. 401K's are being decimated by the latest debacle on wall street and still they plan on voting for john mc cain. why? because not to would be to admit they were wrong.
which brings us to the GLASS-STEAGAL ACT OF 1933. something i am sure all of you are familiar with. lol. the GS act was put in place to regulate wall street to prevent melt-downs such as we are seeing now. the GLASS STEAGAL ACT WAS REPEALED IN THE 90'S WHEN PHIL GRAMHAM (MC CAIN'S ECONOMIC ADVISOR---YOU KNOW THE ONE WHO SAID AMERICANS ARE WHINERS) THEN HEAD OF THE BANKING COMMISSION LEAD THE PUSH BY REPUBLICAN SENATORS, INCLUDING MC CAIN, TO DO AWAY WITH IT SO INVESTMENT BANKERS COULD TAKE ON MORE RISKY LOANS AND INVESTMENTS. over and over, democrats warned that this could lead to disaster. hmmm.
on a lighter note, karl rove said the mc cain ads have gone "too far." that is akin to goebbels calling someone a liar.
so, for you republicans out there...have a freedom fry.
posted by Ron Shock | 8:33 AM
2 Comments:
"I wonder how many times you have to get hit on the head before you find out who's hitting you?"
- HARRY TRUMAN
"It doesn't matter if most voters don't benefit, they all believe that someday they will. That's the problem with the American Dream, it makes everyone concerned for the day they're gonna be rich."
- JED BARTLETT (WEST WING)
This second quote is the secret to the success of the Republicans, and the broad support of their policies, in the face of the total economic calamity we currently face.
The Republicans have somehow appropriated the mantle of the champion of the working man, and managed to characterize the "little guy" as someone who just wants the government to provide them their success. This is obviously crazy, but until the democrats figure out how to get the middle class to stop voting against their interests and supporting candidates whose primary concern is the well being of wall street hedge fund managers, things are going to be quite screwed up.
Rush Limbaugh spends three hours every day engaging in a frighteningly skillful brainwashing exercise to convince people making 40,000 a year that their interests are aligned with the upper 1/10th of 1%. Maybe this time around things will deteriorate to the point that some folks will finally get the message that they need to support people who will look out for them.
BTW - met Hicks in '92 when he was doing a one nighter at the Club Downunder at Florida State University. I was the only one who recognized him, and we talked baseball before the show (the playoffs were on TV). Blew the roof off the joint. 10 months later I was watching the American Comedy Awards and Brett Butler said he had just passed away. Couldn't believe it then, don't want to believe it now. One of the greats.
russell,
great post, thanks for writing! you hit the nail on the proverbial head; it is amazing that repubs get people to vote against their self interest.
hicks was the BEST. ever. it was and is a major loss to the intellectual freedom of america when he died.
he was not only a great comic but a great human being and i miss him every day of my life.
ron
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