The elites will rescue the Wall Street fraudsters at enormous taxpayer expense, and there will be no meaningful additional regulations imposed on banks or investment banks. Clinton's DLCer Rubin presided over banking DE-regulation, and now is acting like he's the Great Regulator.
The "free market" (left on its own) would have crashed months ago were it not for these New Deal institutions, which here have been deployed to save America's richest and most duplicitous.
The horse has already bolted the barn in any event. The rich bankers have their hundreds of millions in compensation and bonuses already locked up and now are arguing that we have to bail out the financial "machinery" in order to keep the whole rotten system operating.
The wages of "conservatism" (and DLCism).
Posted by euzoius at March 24, 2008 11:31 AMeuzo,
and it is worth noting that both democrats have taken millions of dollars from banks and wall street firms. often the same banks and wall street firms. whatever happens, this november, we're going to have to hold the feet of the new administration to the fire.
Posted by Turkana at March 24, 2008 11:38 AMquid pro quo, I doubt it will occur without Hillary or Obama being President. For all those Billions in loans to banks, we--the American Public should get at least an 8 month moratorium on home foreclosure and a cap on interest rates.
Hillary has a new plan, but I don't think it goes far enough
Posted by a4L at March 24, 2008 12:09 PMBut it’s just wrong to blame the war for our current economic mess: in the short run, wartime spending actually stimulates the economy.
Taming the Beast by Paul Krugman, NYT, March 24, 2008
Point taken, Professor, two separate things. Like comparing Ted Bundy with Typhoid Mary. Uhh, after the short run, then what happens? We all die?
Posted by Pvt. Keepout at March 24, 2008 12:21 PMand i think he'd agree, pvt keepout. separate issues, both devastating.
Posted by Turkana at March 24, 2008 12:28 PMpoor McBush, 71% of Americans link Iraq to the Bush recession
Posted by Gay Veteran at March 24, 2008 12:38 PMTurkana.....Hillary Will Win The Presidency in '08!!! And all will be well in the land. Or McCain will win and all will be well in the land. But Obama is BLACK and that'll NEVER happen in this land which ain't for you and me, but for busy bankers and Wall Street prostitutes.
Why do any of you take this staged campaign literally? Jimmy Carville's brilliant take on Richardson's endorsement of Obama, instead of Hillary, illustrates the BANALITY of it all.
Save your money and flee to Europe or investigate one of the Pacific atolls to live, instead of living in America. I for one agree with Reverend Wright, and everybody knows it but is too dishonest to admit it, America IS damned!
Posted by Henderson Hall at March 24, 2008 12:43 PMHenderson, just inform us when your leaving America.And I'll be at the Airport to waive you good-bye.
Posted by a4L at March 24, 2008 01:15 PMHenderson, you'll have to be pretty wealthy to afford an "escape to Europe" from now on---the dollar has been destroyed and will never recover.
Of course the rich have made out so well under Bushco that the now worthless dollar is a meaningless nuisance for them. And Europe IS a very nice place to live compared to the festering, doomed BushAmerica. But most ordinary schmoes are stuck here, for good.
It's Paraguay for the Bushes, apparently. Wonder where Cheney plans on fleeing to? Will he leave the horrendous Lynne Cheney behind? And will he undertake "preemptive" plastic surgery ala "Dr" Josef Mengele? Inquiring minds want to know!
Posted by euzoius at March 24, 2008 01:28 PMpoor McBush, 71% of Americans link Iraq to the Bush recession
Well, that's a problem if legislators and a new president hope to have public support for fixing what really ails the economy.
investigate one of the Pacific atolls to live
Mmm, be careful about sea level.
Posted by truffula at March 24, 2008 01:29 PMhenderson,
you covered a lot of ground with that comment. too bad none of it had to do with my post.
Posted by Turkana at March 24, 2008 01:59 PM