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Filtering by Tag: Financial Reform

Dear GOP

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Truer words have never come out of an elephant's mouth...

via The New York Times:
Senate Republicans, united in opposition to the Democrats’ legislation to tighten regulation of the financial system, voted on Monday to block the bill from reaching the floor for debate. As both sides dug in, the battle has huge ramifications for the economy and for their political prospects in this year’s midterm elections. Republicans said they were intent on winning substantive changes to the bill and accused the Democrats of rushing the most far-reaching overhaul of the financial regulatory system since the Great Depression. Both sides say they expect the overhaul eventually will be approved.

Democrats charged that Republicans were leaving the country at risk of another financial calamity and siding with wealthy corporate interests. The chief executive of one such firm, Goldman Sachs, the Wall Street powerhouse accused of fraud by federal regulators, is to testify Tuesday before a Senate committee. Sensing political momentum at a time of deep public anger at Wall Street, Democratic leaders said they would keep the regulatory bill on the floor — and delay the rest of their busy legislative agenda — to ratchet up the pressure on the Republicans.

Democrats said they believed the fight over financial regulation — and signs of economic recovery in many parts of the country — could help turn the tide of anti-incumbent sentiment that has them bracing for substantial losses in November. President Obama joined in criticizing Republicans for refusing to begin debate, and urged them to “put the interests of the country ahead of party.”

There is nothing worse than when an entity just can't admit when it is wrong. Actually, I rescind that statement. It's even worse when that same entity knows it's wrong, tries every method in the book to keep those wrongs from being exposed, and blocks every attempt to right those wrongs. I couldn't be talking about anyone, but you, oh great GOP. You see, over the past 10 years, America has gone from a surplus, to a crippling deficit, to a full blown recession. As a matter of fact, the surplus Clinton left you guys with left faster than it came. That said, rather than change your clearly errant ways when Obama took office, you guys have been more stagnant than a turtle sipping sizzurp. When it came for the health care bill, you as a party made it your prerogative to block the bill, no matter how much the facts and national support stacked up against you. And the same thing is happening again with this financial regulation debate.

You see, I wouldn't be so mad if you guys weren't so adverse to even talking about reforming the regulatory standards of the financial industry. Truth be told, if you guys were open to debate, came with points that were valid and more complementary to the country's financial health than the Dems, what could I or anyone else say? That would be retarded. If something is clearly beneficial to the country, opposing it is hindering not only the country, but the entity opposing it. It's as if as soon as Bush was out of office, someone in the GOP sent a party-wide memo entitled 'NO'. The memo was simple: say no to everything. How can you build any type of following or make any progress when anything not from your party is met with unanimous opposition? How can you claim to want to 'take back America' when you don't even listen to America? Hell, how can you watch the American economy crumble, and then say no to debating (not even legislating) a solution? What sense does that make??

GOP, I've had a revelation about you, especially after you trying to block this financial debate. You're like the parent that says no to everything. You don't even look at the permission slip for the field trip before you say no. You have your no's cocked and loaded like an American soldier lost in hostile territory. It's actually sick how readily you reject things thrown your way. Perhaps, after the financial debate does go through (there's no way the public or Obama will let them live the block down), you should watch this movie, and take notes. It'd definitely make your options a little more diverse...