Socialism bails out capitalism!
Does that mean socialism was the better choice from the start?
Economics is not my expertise. Part of me says bail them out, for a price, and another part says we need this correction. I’m not smart enough to know how the rest of the cookie will crumble, yet I don’t trust the politicians that let it get this far and are now touting the solution.
The D’s are as bad as the R’s. They pushed to weaken finance terms to people that couldn’t afford the debt, and the R’s were right behind them. The R’s pushed for repeal of banking regulations, and the Dems were behind them. Then they both watched the industry load on with adjustable rate morgages to drive the final nail in the coffin. The rest is history, here’s how the Senate and House voted.
We have but one major problem in the US government: Political corruption. John McCain gets it, Barack Obama doesn’t. McCain and Feingold fought to limit campaign dollars in Congress, though Mitch McConnell and Tom DeLay fought back. It’s no wonder, because campaign cash helps fuel the 95% re-election rate that politicians covet.
Obama’s answer? To turn down public funding of his campaign.
None of this bailout would have happened under an honest political system. I wish that politicians were not on the payroll of the banking and credit industries, but they are. Now our capitalism is threatened.
Not to be forgotten are the fat cats that walked away with $50-100 million per year salaries. They must be really proud, taking a bigger piece of a GDP that wasn’t growing, sending jobs overseas, whatever they could get by with. Hopefully they will get theirs in the end, though my “values” friends will disagree.
The important thing is not how the candidates did in the debates, and not the rhetoric they spew. What really matters is, if elected, how they perform in office. This is McCain’s last hurrah, and he wants to leave a good legacy. Once elected he will not bend to the right-wingers, and I think they know it.
I remain 55-45 in favor of McCain, though I know my vote will not matter. Obama has a lock on Wisconsin and likely the rest of the states as well. And I’m stuck with Sensenbrenner.
The rest of the House and some in the Senate are up for grabs, and that’s what will matter moving forward. Let’s hope the rest of the country gets rid of the rascals.
– Lohman is a retired business owner from Colgate and publishes http://MoneyedPoliticians.net. He authored “Politicians – Owned and Operated by Corporate America” and can be reached at jlohman@execpc.com.
Hey Jack,
Isn’t socialism at fault for the whole mess? When gov’t says that people who can’t afford huge mortgages should be given huge mortgages . . . . The end result isn’t so surprising, is it?
The blame falls on both parties that deregulated tax payer’s guarantees on loans. And when the SEC took a blind eye to credit swaps the problem was put on steroids.
Yeah, Aubrey, we really ought to get rid of all government and all regulations. Survival of the fittests, that’s what I say. If you can’t make it in this dog-eat-dog world, well, die. I’m tired of helping people out…. tired of this thing called “compassion.”
Compassion, Jack, is not the business of the government.
No, it’s the business of the people, and we’ve lost it. It defines a country, or not.
Jack, American citizens give more of their money to charities than any other people – Republicans shouldering the lion’s share of that load. It’s the socialists, Jack, the liberals who believe that government should be compassionate enough for everyone.
Aubrey hates America, it’s so obvious.
He probably doesn’t mind individuals, but he clearly hates the U.S. as a nation.
Aubrey, that’s BS. Yes we give “more” because we have a higher level of wealth, but the percentage of GDP is less than most other industrialized nations.
Besides, that’s not the point. Corruption is, and Transparency International has the US listed as tied for 18th in the world, behind Germany and Austria. We should be fighting it, not making excuses for it.
And most of the corruption involves our politicians and high level business leaders. Not small businesses or citizens.
How are you liking it so far?
18th what? Least corrupt or most corrupt?
By the by, I agree with you on where corruption is more prevalent.
What the hell are you arguing
!?!
CM
You’re making progress, I’m proud of you. Black and white is easy, though, to see in those you don’t like. When you can delineate your own world into black and white, then you’ll really be on your way!
Also, dude, you should really try to make sense when you make statements about people. #7 has no basis in reality. Good try though.
18th least corrupt. We should be the most trusted, not the 18th most trusted.
Well, no arguments there. Essentially, what is the difference here? You don’t agree with my twist on your post: that Socialism is bailing out Socialism?
Well, it’d take a lot more discussion to determine exactly where we differ. If I remember correctly you want zero regulations, and that’s essentially what we got when they passed the Gramm-Bliley bill in 1999 and got us into this trouble.
If 100% of our business and political leaders were honest, perhaps that could work. But I prefer a “regulated” free market. I think if you asked the airline industry they’d probably agree with me.
This is why I don’t think the “left” has as many “share the wealth” socialists as people think. There’s plenty of frustration among liberals, Dems, leftists, which is simply outrage at criminals in high places. I’m with you there Jack. This is why we (supposedly) have rule of law and a Constitutional government.
Thanks Aubrey,
I’m trying a new approach on this blog. I’m going to just blurt out irrational accusations from time to time.
I noticed that the Republican party has been working on this strategy and I thought I would take it for a test drive around the block.
Mr Lohman,
Would you please make up your mind? I can’t tell if you LIKE socialism — universal health insurance, government funding for political campaigns — or if you DON’T LIKE it.
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Pick a side, will you?
David, you are assuming that if you like universal health insurance and taxpayer funding of campaigns, you must like all forms of socialism. That is where we part. I am a capitalist that believes in some forms but not others. I believe in a regulated free market.
I support a regulated airline industry, like we once had, not government owned airlines. And I expect that right about now the airlines do too.
I support a regulated banking and credit industry, and I expect those industries are upset now that they got what they asked for.
Importantly, I don’t support extremes on either side. Total socialism is bad and a free-for-all capitalistic market with zero regulations is bad.
That’s my side. Neither.
Jack
I do believe in the free market, but also believe that gov’t has a limited role.
CM
Blurting out irrational accusations really isn’t a new gig for you. (You had to know that was coming.)
You might want to Try the Obama startegy though: when your connections with known terroists are raised, just say that you are “offended.” Why Obama is offended, I can’t imagine. Everyone who puts their hand over their heart during the National Anthem should be offended. Or you can simply repudiate your terrorist friends actions and all ought to be forgotten. For instance, if you suddenly struck up a friendship with, say, Bin Laden all you have to do is repudiate his past actions and then you can return to being friends. He may even host a political event for you if you ever decide to get involved in politics. Just remember to repudiate when in doubt. That goes for any religious mentors you may have had for twenty years, too.
And David, here’s the kind of socialism I do like. Watch this video of Bernie Sanders… He has the answer, but he has only one in his party.
Good tip on the repudiation technique.
So, for instance, if someone were to accuse me of being an accomplice to a Savings and Loan scandal that cost taxpayers $200 billion, I would simply repudiate this.
Even if I had received campaign contributions in excess of over $100,000 from the individual who was found guilty, and it was well-known that I had acted on his behalf as a U.S. senator. Even then I would repudiate until the end…. “I am not a crook”
By the way, when we catch Bin Laden (thanks to Obama), I’ll be sure to tell him you said hi. After all, you spent time in Iraq, and we all know that Iraq is full of terrorists. Make any friends while you were over there? Nevermind, we already know that you hate America. Of course you made friends with Islamic terrorists.
Vote Republican, Hug a Terrorist!
And Bill, I agree that we (supposedly) have rule of law and a Constitutional government. And though I voted for them twice, I am bothered when Cheney and Bush thumb their noses at it. Were it early in the game I’d likely support impeachment.
I just think it is a shame that so many are supportive of our current, corrupt political system. In November we will elect new politicians. And it doesn’t matter whether they are D’s or R’s, the unelected moneyed interests will remain in power. Year after year we are stuck with the same power brokers that control our country.
I think you’re missing the beauty of the repudiation technique. If you are cleared of any and all wrong doing, you don’t have to repudiate. Of course, it always helps to repudiate and one should repudiate at every possible chance – as a measure of security.
And did I make friends with any terroists in Iraq? Nah, but when I was an instructor for Iraqi Basic Training, I did meet some people who were bound and determined to be an active part of their nation’s future. See, they’d never done that before. I met some grade-A losers, too. But, no terrorists.
Yeah, my hate and disdain for America is so obvious that I’m even going back into the service this coming summer.
and as for your tag-line, “Vote Republican, Hug a Terrorist!” McCain isn’t the best candidate we’ve seen this year. As I’ve said, he’s wasn’t my first, second, or even third choice. But in this case, he is lightyears ahead of Obama. Stop for one minute and realize that your candidate attended a racist, black supremacist church for twenty years – his mentor actually said “God d#mn America;” he worked for and was friendly with a known and unashamed terrorist who killed another American; political track record aside, he has three minutes of political experience – all in the legislature. Even in the face of these facts, you hail this man as being great. I know that because you still have trouble with black and white, you see all these issues as being in the grey. Just ask yourself, if a republican was guilty of these things, what would be your reaction?
Guys, give up on it. Your personal insults add nothing to a logical, cool-headed discussion of the problem facing America. Disagree with a position, if you will, but grow up.
Lighten up Jack. If it wasn’t for personal insults on this blog, there wouldn’t be nearly as much to read.
I sense that maybe you’re a little upset that we haven’t insulted you enough. If that’s true just let me know and I’ll be sure to throw an equal amount of mockery your way.
By the way, I completely disagree with your position. Ah, I feel more grown-up now.
Please, disagree with my position if you wish. But the personal attacks are a big turnoff to other readers. My guess is that many have not come back for that very reason. If you guys want to duke it out, please do so by personal email. You are not doing yourselves a favor by exhibiting your hate.
Sorry, I still don’t get it.
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How can someone be for socialized campaign funding [which benefits only the candidate] but against socialized medicine?
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I don’t get it.
David, I am FOR socialized public funding of campaigns. If anybody is going to pay our politicians I want it to be the people they work for, not the people that want in their pocket.
I am FOR a Medicare-for-all system because (a) I am a Medicare patient and see the same doctor and go to hospital I always have, (b) my doctor is privately employed and not not a government employee, (c) that kind of system is NOT socialized medicine, and (d) I do not want profits to trump medical care, which it does when you have a for-profit health care CEO denying care so he can boost the bottom line and take home a bigger salary and bonus.
Finally, I don’t let the free-market side of me destroy my judgment on other issues. I prefer a “regulated” free market.
And besides, David, public funding of campaigns does NOT benefit the incumbent, or you can be sure that they would have passed it years ago. It DOES benefit the challenger because it levels the playing field, and the last thing incumbents want is a level playing field! See
http://www.wicleanelections.org/opposing-arguments.html
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