for big government run by Socialism....Americans really want a Stalin in skirts?
Posted on 12/13/2014 9:46:05 AM PST by Libloather
WASHINGTON -- Less than a month after Sen. Elizabeth Warren (D-Mass.) landed a new Senate leadership position, Senate Majority Leader Harry Reid (D-Nev.), Sen. Chuck Schumer (D-N.Y.) and President Barack Obama risked a fight with her over government subsidies for risky Wall Street derivatives trading.
They won the near-term policy fight: After a bruising bicameral battle, the House of Representatives narrowly approved an annual spending bill that granted taxpayer support for the risky financial contracts at the heart of the 2008 meltdown.
But the bitter feud left Reid and Obama politically embarrassed, while consolidating a burgeoning populist movement within the Democratic Party that highlighted Warren's influence in wings of the Capitol far removed from her perch on the Senate Banking Committee. It also forced Obama and a host of Democratic leaders into the crosshairs of a critique Warren typically levels at Republicans: that powerful people in Washington are rigging the system to help Wall Street at the expense of the middle class.
(Excerpt) Read more at huffingtonpost.com ...
Obama’s (and all politicians) most valuable base is, was and will always be the Money Changers in Wall Street. The Mother’s Milk of politics is green.
I am a Wall Street illiterate, but of the feds are giving subsidies to the risky derivatives (futures, options etc.) market, I am with her.
We’ve now got The O right where we want him—giving our wealth away to the 1%
“”But the bitter feud left Reid and Obama politically embarrassed””
Those two pukes are not capable of being embarrassed.
How can anyone believe this phony BS from HuffPost?
I really don't understand why or how people are swallowing this tripe and would like to know.
Fauxcahontas is setting herself up beautifully for 2016.
Both against Hillary and in November.
I am past ready for another Republican trust buster like Reagan to come along and break up all these banks and financial institutions!
NO BUSINESS should be allowed to be so big, that the government can’t let it fail.
THAT should be the very criteria for determining how big is too big!
I suspect it is BS but I have not confirmed it yet.
Who cares, Obama’s not running for reelction. But when Fauxahontis comes up with the same rap, they’ll vote for her. They’re suckers.
If they would just be allowed to fail and take the consequences without dragging the taxpayer into it, bigness in and of itself wouldn't be a problem.
The BOTTOM LINE is that Wall Street simply CANNOT BE TRUSTED to handle money responsibly. They had their chance and now our kids have another $3 TRILLION dollars (at least) in debt to show for it (by the way, just for reference, $3 Trillion is enough to buy about 12,000 B2 Bombers, the Air Force currently has a total of 21 B2s...it’s REAL MONEY). And beyond that, no one even a paid a price for that level of theft.
These people simply have to be REGULATED TO DEATH, or the same will happen again. And I say that as a free-market person - there are simply some areas that the free-market will not work in...or maybe it could, if we had a justice system like China’s, where these people would have been executed, but we don’t.
Read Thomas Sowell's book "The Housing Boom and Bust".
Exactly. “Anti-Trust Laws”, what are those?
but that’s exactly the issue.
some businesses have become SO big, that the government CANT just let them fail. Letting them fail would collapse the entire US and possibly world economy.
Such businesses NEED to be broken up! And the first serious Republican presidential candidate to embrace this will win in a landslide.
LOL!! That's a good one.
Hilariously hypocritical. Nice Nanny State philosophy there.
How about less regulation and some caveat emptor. No more taxpayer bailouts or government insurance for risky behaviour
You may have noticed, apparently not, that all these Bank Bailouts have come after GREATER AND GREATER regulation. Hows that working for you?
You've already gotten one answer to this tripe. But here are two more: the more that regulators regulate, the less competition there will be to the big banks. Second, the main reason for the banking excesses is failed Fed policy which basically consists of shoveling newly printed money into the biggest banks in hopes that it might trickle down to the rest of the economy.
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