[CSM] The Big Shift (to the Right)

Cohete Rojo · Aug 4, 2011

What the problem is?

Rumblemintz · Aug 4, 2011

Northside Storm said: ↑

Yeah, the Dems aren't bloody doing that much either, as I have often noted. I myself am not a big fan of Frank-Dodd and how it is (not) being implemented, but it should be pointed out that at least the Dems tried to regulate Wall Street, and even if it was just a watered-down Glass-Stegall, at least on the surface, they're trying to do the right thing.

The Bush tax cut bubbles refer to the fact that capital gains taxes were slashed to 15%, which led to a higher incentive for cash to flow to speculative cash flows. In fact, the uber rich now derive a large part of their incomes off of the gains from those cash flows. The problem with that is that inherently, asset bubbles of any kind are unstable. With so much cash flowing everywhere, products like CDOs, and credit-default swaps started popping up, and well, down the rabbit hole we go.
Click to expand...

What's crazy to me is that the whole lot of Ayn Rand disciples from Greenspan down to Geithner watched and allowed the derrivitave bubble to happen and Clinton ignored his own appointee who was supposed to be his watch dog. And everyone came out unscathed. And I'm not blaming Clinton for the mess. He was advised by folks who were supposed to know better. And the cast hasn't changed.

When you say the 'uber rich' we're talking about the same cast. The politics WE see are just smoke and mirrors to distract from who's really responsible.

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[CSM] The Big Shift (to the Right)

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