Thread: Wall street reform

Originally Posted by article

Instead, they agreed to pay for Wall Street reform by ending the $700 billion federal bailout program called the Troubled Asset Relief Program (TARP) immediately upon final passage of the bill.



Lawmakers would redirect the stream of bailout repayments as well as untapped dollars to offset shortfalls created by the Wall Street reform bill, which spends money by creating new agencies. The move would offset $11 billion in spending.

Originally Posted by Obama

"I'm confident that given the package that has been put together, that senators, hopefully on both sides of the aisle, recognize it's time we put in place rules that prevent taxpayer bailouts and make sure that we don't have a financial crisis that can tank the economy," Obama said. "I think there's going to be enough interest in moving reform forward that we're going to get this done."

http://money.cnn.com/2010/06/29/news...dex.htm?hpt=T2



Doesn't what Obama say in the above paragraph contradict what is really being pushed right now according to the other paragraph? I mean if we are using TARP funds to pay for this, that IS taxpayer money isn't it?

But we're creating new regulatory agencies, instead of giving it directly to corporations.



Wowee, BFD.



The truth of the matter is very simple. It begins with this fundamental realization: corporate America has grown top-heavy. It's too big for its own britches.



But instead of breaking up the big corps (which would be the smart thing to do), our idiot Senators want to just "regulate" them. Well, you know what that means, right? More campaign contributions! Of course that's the reason, that's the whole damn reason they're doing this. They don't want to upset the trough at which they feed.



Which then leads you to another immediate and inescapable conclusion: our government has grown top-heavy. We should break it up too! Decentralize power, and devolve it back to the states.



But of course, no one at the federal level will vote for anything so intelligent, straightforward, and helpful. Why? Because they're the piggies feeding at the trough. They have an interest in keeping the trough alive.



This is what happens when government gets into bed with big business. This is precisely why corporatism is the single biggest evil on the political landscape today.



We're seeing it in action, and no one seems to understand it. Why Is that?



It's very fucking simple - break up the big corps, and break up big government. Those two things put together will solve 90% of our problems, in the economic as well as the political sphere.

[quote name='Goldwater' date='30 June 2010 - 12:48 AM' timestamp='1277876898' post='162743']

Holy crap!!! You made complete sense, and didn't even have to bash the left or right to do it.



Great post...I couldn't agree more. State elections would be a lot more important.

[/quote]



Thank you Goldwater. I'm glad we're starting to achieve a meeting of the minds. My view is that in today's world, the two big parties are exactly alike. You and I, "righties and lefties", may differ in our social philosophy and the way we approach problems, but the parties themselves do not. That is my opinion, we - all of us - have been hoodwinked by something that has very little to do with left vs right.



There is a far more important and immediate problem on our horizon - and that is, a "system" which has grown top-heavy in every respect. The thing is, we can't do one without the other, we have to break up both big business and big government. In my opinion, that's how the parties keep us divided - one side pushes on and blames big business, while the other side pushes on and blames big government, and all the finger-pointing back and forth is hiding the real issue.



Top-heaviness is the real issue. And I don't see how we can address it without tackling both sides of the coin. Righties keep hammering on big government, and lefties keep hammering on big business, and they're both right, but the parties want to convince us that there's some kind of dichotomy there, and that we're both wrong somehow.



And why do they do it? Because they're the piggies feeding at the trough! Proof? Look over at the gulf states What do you see? There are thousands of small businesses poundng at the government's door saying "we can help", but is the government listening to them? No! Instead, they've simply tossed the ball into BP's court, and they expect Big Business to subsidize their competitors and rescue them from extinction. And what are the chances of that? That would be like asking Goliath to pay for David's meals, right?