Here we go again more bad news from A.I.G. For the last 30 years both the Democrats and Republicans gutted the basic laws and enforcement i.e.: financial regulations, anti-trust prosecutions that prevented financial institutions from becoming as we have been told “too big to fail” and David Sirota said in his latest column If It's Too Big to Fail, It's Too Big to Be Private.
We are going to have to realize that we can’t and should not bailout these huge corporations who have operated without prudence and common sense. What needs to be done is nationalize these institutions and fire the executives whose responsibility was to protect their investors with sound investments strategies, investigate any possible crimes that where committed. We could then unload the toxic debt for its real value break up these giants that are to big to fail and resize them and sell them back to private enterprise, so that one failure will not cause the tumbling of the house of cards as we have today.
There is a lot of money for investment but people are just not investing now because of the uncertainty on what the government will do. We know the government is going to do something, but like Ron Paul said “will it act like a chicken with its head cut off” and if you have never seen this before you don’t know what direction that bird is going to run just that it will flail about until it collapses. We need a sound monetary policy and some incentives for investing in the stock market again like removing the capital gains tax for investments made into the stock market and left there for two years.
The government should cut spending. Bush and company spent this country into the poor house and his policies are the initial cause of this mess. Now with president Obama’s massive spending we are being put into a huge pit debt that will probably take decades to recover from if we ever do.
All we hear from Rush Limbaugh and most of the Rightwing, is Obama is getting us into such a mess, and I hope Obama fails, well lets lay the blame where it belongs and not rewrite history like Karl Rove would have us do. By the way Rush I saw you on the C-PAC show and WTF, were you going for the bloated Tony Manero Saturday Night Fever look, GEEEEEE WIZ.
Let’s Start with the $3 trillion cost of George W's misadventure in Iraq that the White House and Congress Republican and Democrat alike merrily slapped on our children's future. Or, remember just a few months back when Bush's treasury secretary and Federal Reserve chief madly borrowed several trillion dollars from our children to stuff into the pockets of Wall Street executives, with no requirements that the banks do anything productive with the money?
So let’s get this straight, Republicans controlled congress for 6 years and the White House, for 8 years. The Republican-driven deficits dwarf Obama's spending. They saddle future generations with enormous costs for, as Jindal put it, "things we don't need," without returning any benefits to our country.
President Obama wants to create jobs and I think the first jobs Obama should create are hiring enough Border Patrol officers to secure our seaports and borders. He can immediately put people to work at the IRS investigating corporations who have been cheating on their taxes. He can put people to work by beefing up the SEC’s investigation personal so that we won’t have ponzi schemes that go on for years under the noses of the SEC undiscovered until after large numbers of people are duped into investing their life savings into worthless paper.
Some of the spending in Obama’s recovery package will buy roads, schoolhouses, water systems, parks, health care, mass transit, renewable energy and other real projects that we really do need. These things will be there to benefit future generations and me and many of my conservative friends support these things.
With our deficit problem though I think that the $237 Billion that gives $400 dollars to each worker isn’t going to be much help I would rather see that money used for more infrastructure projects. There are a lot of things in this stimulus package that I don’t agree with but we all should look at it and figure out where our priorities are and get busy and get congress to work on measures that will fix our economy and unite this country.
Peace, Liberty, and Prosperity through intelligence, strength, and integrity.