spot wrote:
There's no doubt that Bush ran up the deficit with his tax and foreign policy; you'll get no argument from me there. For sure, he should have figured out a way to pay for the wars rather then put them on the credit card. But the deficit wasn't the cause of the meltdown in 2008; those are really two separate matters.
there were 2 things that caused the magnitude of the shit show obama inherited: 1) the
deficit. that bush handed obama. that would have been there meltdown or no meltdown. 2) our ponzi economy, which exists because both sides allowed it.
that said, why the vitriol from the right against barney frank and elizabeth warren? because, if you don't like some of their policies, okay, but in each case their message is dominated by their exhortations about wall street: that we love us some wall street, but if you let them manage themselves it will end badly. and, it did. and, we're setting up for a repeat. and, it's lefty v righty again. and, when it happens again, righties are going to say, "well, it wasn't all righty's fault."
look, this isn't that hard. i remember when i got my first liar loan, in 2002. and i thought then, "this isn't going to end well." and i also realized, then, the solution. insurance agents are paid on retention. pay mortgage brokers on retention. pay a mortgage broker 25 percent of his commission up front, and the rest over 5 years, meaning if that loan goes bad he forfeits the balance of his commission. that wouldn't have solved the ratings agency scam, but it would've put the brakes on the wholesale gifting of bad loans.
what we have now, with trumpism, is a wholesale rollback of any and all regulations they can find. of any sort. and a rollback of govt, in general, everywhere. in science, in public lands, in education, in oversight, in clean air and water. and maybe that's okay if you simply feel that these are states issues. however, in today's world these are not only very often not simply states issues, they're
national security issues. in eisenhower's, nixon's, even to a degree in reagan's republicanism govt was not evil. in bush's republicanism govt got pretty righteous in the last 90 days. republicans just need to stop being on the wrong side of this.
Dan Empfield
aka Slowman