GOP Wants Wall Street Unleashed Again

[NJMaverick]

The definition of insanity is doing the same actions over and over again and expecting different results

Quote:All the GOP candidates have come out [NYT] against the Dodd-Frank Act:

Quote:Most of the regulations included in the law fall on the big banks that were at the center of the financial crisis — Bank of America, Citigroup, Wells Fargo and JPMorgan Chase. Those names rarely pass the candidates’ lips, however, as Republicans have turned Dodd-Frank into a piñata. Instead, they invoke community bankers — the small-town lenders who are more likely to be seen coaching a Little League team than wearing a pinstripe suit — as the beleaguered victims of overregulation.

I'm a little aghast. Very few people who observed the financial meltdown can possibly believe that the financial industry can be effectively self-regulating. What on earth would it take to pound that point across than the current recession, which emerged from the financial crisis? And yet the GOP's religious doctrines have to be obeyed - even if they have just been spectacularly disproved. Steam pours out of Matthew Boudway's ears:

http://andrewsullivan.thedailybeast.com/...tion-.html

[jaxx]

I wonder what the GOP thinks of 3 of their precious banks being downgraded. They want no regultion, let the money men run wild and we'll all prosper......what part of financial ruin for the country don't they understand. Left to their own devices nothing would be safe.

[Ikonoklast]

What part of "Catastrophic Economic Disaster" don't these cretins understand?

Completely unregulated Capitalism will destroy itself; we have seen this time and time again; the Great Depression, the S&L crisis, the last banking debacle...how many times do the greatest thieves in history think that common working people are going to bail out the shellls of the companies they looted?


Like my Dear Old Dad said, "Obama missed his chance. He should have shot a few bankers in the middle of Wall Street on live TV, people would have made him President For Life."