(Via Fox News Video)
This one somehow snuck past me.
I happen to read on Populist Jim Hightower’s website about this one here and I went and looked it up and sure enough; there it was in black and white:
WASHINGTON –– To Wall Street, this town might seem like enemy territory. But even as federal regulators and prosecutors extract multibillion-dollar penalties from the nation’s biggest banks, Wall Street can rely on at least one ally here: the House of Representatives.
The House is scheduled to vote on two bills this week that would undercut new financial regulations and hand Wall Street a victory. The legislation has garnered broad bipartisan support in the House, even after lawmakers learned that Citigroup lobbyists helped write one of the bills, which would exempt a wide array of derivatives trading from new regulation.
The bills are part of a broader campaign in the House, among Republicans and business-friendly Democrats, to roll back elements of the 2010 Dodd-Frank Act, the most comprehensive regulatory overhaul since the Depression. Of 10 recent bills that alter Dodd-Frank or other financial regulation, six have passed the House this year. This week, if the House approves Citigroup’s legislation and another bill that would delay heightened standards for firms that offer investment advice to retirees, the tally would rise to eight.
Both the Treasury Department and consumer groups have urged lawmakers to reject the bills, warning that they could leave the nation vulnerable again to excessive financial risk taking. The House proposals stand little chance of becoming law, having received a much chillier reception in the Senate and at the White Ho
You believe those greedy bastards? Jim Hightower is not amused and rightly so:
On the day before Halloween, the ethically-challenged members of our lobbyist-haunted House of Representatives did a perverse imitation of “Profiles in Courage,” turning that body into “Profiles in Spinelessness.”
In particular, they cravenly caved in to an outrageous and dangerous demand by Wall Street whiners. Such financial powerhouses as Citigroup just hate having their profiteering recklessness restrained by the regulatory reforms passed after their 2008 financial meltdown. Even though the shockwaves from that Wall Street collapse continue to devastate America’s middle class, the banking elite have completely recovered – including recovering their swaggering arrogance and ability to sway money-hungry congress critters with rich campaign donations. — Read the rest at Jim Hightower’s site
I am shocked that more Conservatives are not swinging from the trees on this one here! To their credit, there are some Democrat Party house members that are opposed to this bill and rightly so. This is the same idiotic crap that brought down the stock market and killed our economy; thank goodness there is some semblance of sanity up on the hill.
Sure enough the Bill passed the house, But it is not expected to make it through the Senate and the White House has said that they would veto the thing, if it made it to the President’s desk. Which in this instance is a very good thing. However, this is not the point. What is the point is this: Those same bastards who caused the great meltdown of 2008, are now lobbying our Government to put things back as they were, so that this sort of thing could happy again. That my friends is enough to make an economic populist, like myself, to want to bite a nail in two! 😡
The people that caused the Wall Street meltdown and downturn in our economy ought to be brought up on treason charges, and lined up against a wall and shot! 😡 But, instead, they are trying to buy their way back to lawlessness. This my friends, is an outrage.
This is from 2010, but I just discovered it. It is very good. It is a 4 part series. I highly recommend it.
There are a good deal of parallels between this and what is going on now in this country.
It could and most likely will happen again.
Enjoy this six part series by PBS on “The Crash of 1929 & The Great Depression”:
Despite what has happened locally here and how I feel about it; I must continue on writing and blogging about what I consider to be important.
It seems that in Ohio, there has been a decline in voter registration, especially in Democratic Party strongholds. This is also signaling a national trend. Here is the Story and Video via Fox News Channel:
“Don’t boo, vote,” President Obama often says in his stump speech whenever crowds boo a Romney plan.
The off-hand call to vote may be by design. It comes amid a precipitous decline in Democratic voter registration in key swing states — nowhere more apparent than in Ohio.
Voter registration in the Buckeye State is down by 490,000 people from four years ago. Of that reduction, 44 percent is in Cleveland and surrounding Cuyahoga County, where Democrats outnumber Republicans more than two to one.
“I think what we’re seeing is a lot of spin and hype on the part of the Obama campaign to try to make it appear that they’re going to cruise to victory in Ohio,” Cuyahoga County Republican Chairman Rob Frost said. “It’s not just Cuyahoga County. Nearly 350,000 of those voters are the decrease in the rolls in the three largest counties, Cuyahoga, Hamilton and Franklin.”
Frost points out that those three counties all contain urban centers, where the largest Democrat vote traditionally has been.
Ohio is not alone. An August study by the left-leaning think tank Third Way showed that the Democratic voter registration decline in eight key swing states outnumbered the Republican decline by a 10-to-one ratio. In Florida, Democratic registration is down 4.9 percent, in Iowa down 9.5 percent. And in New Hampshire, it’s down down 19.7 percent.
“It’s understandable that enthusiasm is going to wane a little bit from that historic moment (in 2008),” says Michelle Diggles, the study co-author and senior policy adviser for Third Way. “You can only elect the first African-American president of this country once.
Of course, there are other reasons why people are just not happy anymore with the Democrats:
One Democratic Party consultant told Fox News that independents in Ohio may be leaning Democratic – an effect that may be tied to the bailout of Chrysler and GM. One of eight people in Ohio work in businesses directly tied to the auto industry. The state has been carpeted with Obama ads that point to his bailout of the industry and it’s managed bankruptcy.
I do not mean to toot my own horn; but in this case, I must. I predicted that stuff like this would happen on my old blog. When the bailouts happened, and when the healthcare bill was pushed through. The truth is Independents are simply running away from Obama. Another thing too that this report did not cover; is that some Democrats are simply not happy with the Obama Administration. This is for a number for reasons: The continuation of Bush’s polices on the war on terror and the war is one. The failure to close the prisons in Gitmo is another. The continuing of the war in Afghanistan is another. Also too, Ohio is also a union State and when Obama’s chief of staff at the time, said “F*** the big three!”, many in Ohio heard about that too. This all makes for a unpopular President.
Also too; the economy in Ohio, here in Michigan; and nationally, just plain sucks. There are many small businesses in Ohio, many of whom are faithful Democrats; and they are just looking at their bottom lines and are looking at this President and wondering, “What on earth are they doing to us?” To be fair, it is not all of Obama’s fault. The Federal Reserve with it’s QE1, QE2 and now QE3 is not helping the situation at all. When the fed prints more money, inflation happens, which drives the prices of everything up and this, in turn, hurts businesses. Which, in turn, hurts the economy. Bill Clinton learned this lesson early on, and made adjustments. Jimmy Carter and this President, did not. For that, they are paying a price at the polls.
I should also mention that this current foreign policy debacle in Libya, and Egypt and the rest of the Arab World is also weighing heavy on the minds of people as well. As it was in 1979, with the Iran hostage crisis. Now, Iran is being a problem again. Which is very ironic.
History has such a strange way of repeating itself.
Update: Here’s Romney’s Presser on the subject.
If it were not for the fact that this story was so darned funny; it would actually be pretty sad.
Mother Jones the crypt keeper of all things liberal, comes up with some really super secret video of Mitt Romney telling the absolute truth about the Obama voting people.
Here are the videos:
On Obama voters:
On Treating Obama gingerly, because he does not want to lose the independent voter:
On his consultants:
On the fact that most people couldn’t give a rip about politics; that they care about bread and butter issues:
On Obama and Wall Street; and if Mitt Romney wins, Wall Street will improve:
In this idiotic article, the author makes a false claim:
Well, um, actually —- Via Washington Examiner:
Mother Jones reporter David Corn claims the line about Obama promising to get unemployment under eight percent is not true.
Corn is wrong: Two of Obama’s economic advisers released a report in January 2009 arguing that the economic stimulus bill would have unemployment under 6 percent by now.
Also too The Astute Bloggers reminds us of the following:
From the Economic Collapse Blog:
The following are 16 statistics which show that the number of Americans dependent on the government is at an all-time high….
#1 According to the Census Bureau, 49 percent of all Americans live in a home that gets direct monetary benefits from the federal government. Back in 1983, less than a third of all Americans lived in a home that received direct monetary benefits from the federal government.
#2 The amount of money that the federal government gives directly to Americans has increased by 32 percent since Barack Obama entered the White House.
#3 The number of Americans receiving Social Security disability benefits has increased by 10 percent since Barack Obama first took office.
#5 The number of Americans on food stamps recently hit a new all-time high. It has increased by 3 million since this time last year and by more than 14 million since Barack Obama first entered the White House.
#6 Today, one out of every seven Americans is on food stamps and one out of every four American children is on food stamps. This is unprecedented in American history.
#7 In 2010, 42 percent of all single mothers in the United States were on food stamps.
#8 Back in 1980, government transfer payments accounted for just 11.7% of all income. In 2010, government transfer payments accounted for 18.4% of all income, which was a new all-time high.
#9 By the end of 2011, approximately 55 million Americans received a total of approximately 727 billion dollars in Social Security benefits. As the retirement crisis becomes much worse, that dollar figure is projected to absolutely skyrocket.
#10 According to the Congressional Budget Office, the Social Security system paid out more in benefits than it received in payroll taxes in 2010. That was not supposed to happen until at least 2016.
#11 Back in 1965, only one out of every 50 Americans was on Medicaid. Today, one out of every 6 Americans is on Medicaid, and things are about to get a whole lot worse. It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.
#12 The U.S. government now says that the Medicare trust fund will run out five years faster than previously anticipated.
#13 The total cost of just three federal government programs – the Department of Defense, Social Security and Medicare – exceeded the total amount of taxes brought in during fiscal 2010by 10 billion dollars.
#14 It is being projected that entitlement spending by the federal government will nearly double by the year 2050.
#15 Right now, spending by the federal government accounts for about 24 percent of GDP. Back in 2001, it accounted for just 18 percent.
#16 When you total it all up, American households are now receiving more money directly from the federal government than they are paying to the government in taxes.
So, in other words, Romney told the truth about the left and now they are having a collective (Something they do well, collectivism!) heart attack about it. Two words lefties: Oh well. Truth hurts don’t it?