Share on Google Plus Share on Twitter Share on Facebook 3 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 2 (5 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats   3 comments

OpEdNews Op Eds

The Top 12 Political Fallacies of 2012

By (about the author)     Permalink       (Page 3 of 5 pages)
Related Topic(s): ; ; ; ; ; ; ; ; ; ; (more...) , Add Tags  (less...) Add to My Group(s)

View Ratings | Rate It

opednews.com Headlined to H4 12/30/12

Now we're told it's "beyond our means" to live as well as we did in 1969. There's a word for that, but it's not printable.

6. Our problems aren't anybody's fault.

This fallacy might be called the "Sh*t Happens" school of economic thinking. It says that the economy just crashes from time to time, recurrent and unavoidable disasters just like earthquakes.

But we avoided these crises for decades by regulating Wall Street and prosecuting crooked bankers. When we stopped doing those things we got another crisis.

Cause and effect.

7. Banks paid back what they owed us from the bailout.

Here's why this is a fallacy: First, we don't have a full accounting even now. Second, we're still responsible for the enormous amount of toxic risk which Wall Street created and the government then assumed on its behalf.

Besides, that's not how business works. Every major bank in this country was a failing business with intolerable risk exposure. Loans under those conditions are of enormous and inestimable value.

When you ask nothing in return -- not partial ownership, not a percentage of the profits, not even an end to their criminal behavior -- you're giving away the store. And when you give those loans to serial crooks and cheaters -- people who serially cheat you -- people, you've been had.

8. Wall Street-ers didn't commit any crimes -- or they're too hard to prosecute.

Which gets us to our next fallacy, or fallacies. There's overwhelming evidence, and a mound of billion-dollar settlements, demonstrating that banks -- and individual bank executives -- broke laws over and over in the run-up to the current crisis.

These mountains of prima facie evidence were ignored, and continue to be ignored, by the Obama/Holder Justice Department.

Now we've learned that all the banks knowingly defrauded regulators in a LIBOR scandal. All of them!

LIBOR is like one of those Agatha Christie novels where all the suspects did it.

9. "Ideologues" are getting in the way of "bipartisan" and "technocratic" solutions to our problems.

This is another fallacy -- one they've been using to sell unwise, unpopular, and unfair policies. It's usually attached to billionaire-funded corporate agendas like those of the "Simpson Bowles" plan, the Democratic group called Third Way, and the corporate CEOs of "Fix the Debt."

Next Page  1  |  2  |  3  |  4  |  5

 

http://www.huffingtonpost.com/rj-eskow/the-dumbest-bipartisa

Host of 'The Breakdown,' Writer, and Senior Fellow, Campaign for America's Future

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

Go To Commenting
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

How to Fix the Fed: Dismiss Dimon, Boot the Bankers, and Can the Corporations

The Top 12 Political Fallacies of 2012

Pawn: The Real George Zimmerman Story

What America Would Look Like If Libertarians Got Their Way

"F" The Bureaucracy! The White House Can Help Homeowners Right Now

The Price of Evil at JPMorgan Chase

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
3 people are discussing this page, with 3 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

that Homo sapiens will actually be here in two or ... by Daniel Geery on Monday, Dec 31, 2012 at 9:29:54 AM
By candidly assessing the truth of the situation a... by Don Caldarazzo on Tuesday, Jan 1, 2013 at 1:28:13 PM
By far, the largest part of gov't spending is the ... by Kathleen O'Grady on Tuesday, Jan 1, 2013 at 4:06:19 PM