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Edwynn -> RE: Do republicans even have a conscience? (11/7/2012 3:19:03 AM)
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ORIGINAL: DesideriScuri
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ORIGINAL: Edwynn
If you consider the Garn - St Germain Depository Institutions Act of 1982 and the resultant S&L 'crisis' 5 years later, the firing of the FDA commissioner at the behest of G.D. Searle's Donald Rumsfeldt , the letting go of Volker from the Fed after he did the dirty work of subduing high inflation, to bring in a reliably hands-off Greenspan, The free marketeers Rubin and Summers brought in by Clinton, the Phil Gramm-sponsored and spearheaded Gramm-Leach-Bliley Act and Commodities Futures trading Act, with disastrous results that we'll be dealing with for rears to come, etc., to be "bullshit talking points," as opposed to actual recorded events, then that would go a long way towards explaining the problem here.
Initial limits to the interest rate Congress set on S&L's all but destroyed them. Banks could offer higher rates to attract more customers. S&L's cried foul and Congress lifted that rate limitation. They also opened up some types of loans for S&L's that they didn't have before. There were some S&L's that jumped into shady transactions. When things started to look like they were about to spin out of control, Congress came back in and immediately reset the limitations and took away the new loan types. Additionally, they forced fire sales of the now-illegal loans, which were more profitable than the other loan types. That destroyed the S&L's.
All done by Government regulations.
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And, we both agree that we need to separate Government from Big Money. Cutting the influence of money in DC is of prime importance, and much of that can be done by reducing the amount of money Government controls.
Even more could be done to that end by reducing the amount of money that controls Government.
Huh?!? More could be done to separate Big Money from Government by reducing the money that controls Government?!? Isn't that saying that your pain will go away when it stops hurting?
What ARE you talking about?
The S&Ls destroyed themselves, there is no factual account that says otherwise.
As for the money controlling government, I mean not just the lobbying and non-lobby and PR efforts and political contributions (or, "free speech" as the SCOTUS so euphemistically calls it), I mean direct corporate control. George Shultz, Sec. of State, Caspar Weinberger, Sec. of Defense, both from Bechtel, a major defense contractor, Shultz later serving on the board of Chevron; Donald Rumsfeldt, CEO of G.D. Searle, who got Reagan to appoint a FDA chief who added another panel member to rule in favor of approving Searle's Aspatrame sweetener against the recommendation of the FDA's scientific panel, and along with Cheney, primary liar and agitator for the invasion of Afgahnistan and Iraq, Sec. of Defense; Dick Cheney, CEO of Haliburton, Sec. of Defense, then VP of the US; Robert Rubin, Goldman Sachs, Sec. of Treasury, then CEO of Citigroup, his deputy, Larry Summers; Wendy Gramm (Phil Gramm's wife), who, as head of the Commodity Futures Trading Commission, removed rules for energy futures contracts at the behest of Enron, whereupon she was rewarded with a seat on their board, as Enron employees and shareholders were rewarded by having their retirement and holdings wiped out; her husband Phil, who sponsored and spearheaded the two Acts mentioned in the previous and other posts, primary movers in the financial meltdown, subsequently rewarded with a VP job at USB; Condoleeza Rice, on the board of Chevron, Transamerica, et al., Natl. Security Advisor, Sec. of State, Chevron showing appreciation for her efforts on their behalf by naming a super tanker The Condoleezza Rice; Henry Paulson, from CEO of Goldman Sachs to Sec. of the Treasury, architect of the bailout that sent billions of taxpayer money to AIG and Goldman to fund billions in bonuses to their executives ...
Lots more where that came from, but no use in wasting bandwidth required for the rest of a very long list; it doesn't matter. You don't want to believe, so you don't.
Quit wasting everybody's time. As demonstrated in the discussion of a proper single-payer universal healthcare system, you ignore and deny those in the field who know what they're talking about, you ignore the financial and outcome statistics, you ignore reality, as you are doing here, to suit your fantasy world. It doesn't matter the facts, you believe or don't believe as you choose.
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