In response to the incredible financial turmoil of the past week, which saw the bankruptcy of Lehman Brothers, the purchase of Merrill Lynch by Bank Of America, and the government bailouts of Fannie Mae, Freddie Mac, and AIG Insurance, both presidential campaigns have stepped up their discussions of economic policies, as this Obama discussion demonstrates.
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Fannie Mae and Freddie Mac are the biggest dealers of securitized mortgages and were overleveraged. Bush and the Republicans tried to place limits on their investments but were defeated by the Democrats. Lobbyists won out and Fan and Fred are now owned by the Federal Government. Fannie Mae and Freddie Mac have given millions to politicians, 90% to Democrats. "Barry" Obama is number two in the amount of money, $85,000 to be exact! Workers at these institutions have given "Barry" over a half of a million dollars!
Will someone please tell "Barry" that the Government doesn't create jobs, BUSINESSES DO! If the government taxes the top corporations more than they already are, THE FIRST THING TO GO WILL BE JOBS TO PAY THE TAX INCREASE! If you lower the tax rate, IT ALLOWS MORE MONEY TO HIRE NEW WORKERS!
Thank you for your thoughtful comments.
The fact remains that while lowering the tax rate does allow more money for the hiring of new workers, allowing Freddie Mac and Fannie Mae to continue on without more stringent government oversight increases the risk of more overleveraging, and more lousy loans to those who don't deserve them.
Furthermore, the amount of money contributed to Democrats by both pales in comparison to the vast oceans of unregulated and unfettered corporate money that has flowed into Republican Party coffers since the beginning of time, all with an expected quid pro quo for corporate raiders and golden parachute laden CEOs who have consistently demonstrated little or no regard for the American workforce that provides the economic engine that allows them to horde such ridiculous compensation packages in the first place. Corporate America in the Bush years has hardly been a friend to American workers, whose sweat built this country, and whose efforts continue to distinguish it from the rest of the world. Businesses may create jobs, but an unfettered and unregulated market cannot be trusted to "do the right thing." Government does have a moral obligation to prevent the collapse of the system for the protection of its citizens. "Pulling one up by one's bootstraps" means nothing to those without boots.
Furthermore, conservatives have a ridiculous preoccupation with calling Senator Obama "Bsrry". While this may be his name, he chose a long time ago to go by Barack, and should be addressed as such, out of simple respect.
No one has been taunting Senator McCain as "Johnny the Geezer," or McCain-Palin as the "Lady and the Gramp" ticket. Republicans talk all the time about morality and respect and values, but are often more quick than Democrats to show little regard for all three. Consistently throughout U.S.History, Republicans have talked the talk on these three points, using them as slogans and punchlines. Democrats have walked the walk on these three. Contrary to popular opinion, Conservatives do not own morality, respect, patriotism, and values...We all do.
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