Apr 28, 2010

Republican hypocrisy trumps Main Street


The Republican hypocrisy is just absolutely stunning. That Republican hypocrisy rules on all levels of government.

On the very day U.S. Senate Republicans were skewering Goldman Sachs executives at a hearing of the Senate Permanent Committee on Investigations on Tuesday and saying the financial system needed reform, Senate Republicans – for the second consecutive day – blocked Democratic efforts to overhaul the financial system and crack down on the Wall Street greed that was a major contributor to the worst recession since the Great Depression. Instead, Republicans stood up for one of their major benefactors, Wall Street, and every single Republican voted on Tuesday to block debate on the bill.

The committee hearing was chaired by Sen. Carl Levin, D-Detroit, and they are the culmination of nearly a year and a half of investigation. The freezing of financial markets and collapse of financial institutions sparked the investigation, and those factors led to millions of Americans losing their jobs, their homes and their businesses in the recession that the crisis sparked, the worst economic decline since the Great Depression.

Tuesday’s hearing explored the role of investment banks in the development of the crisis, and it focused on the activities during 2007 of Goldman Sachs, one of the oldest and most successful firms on Wall Street. Goldman documents make clear that in 2007 it was betting heavily against the housing market while it was selling investments in that market to its clients. It sold those clients high-risk mortgage-backed securities and CDOs (Collateralized debt obligations) that it wanted to get off its books in transactions that created a conflict of interest between Goldman's bottom line and its clients' interests.

Goldman Sachs executives avoided specific answers about the financial crisis and the bank’s relationship with its investors, and the frustration over their stalling and evasiveness frustrated both Republicans and Democrats on the panel. The firm reaped huge profits from the collapse of the US housing market, and Levin accused Goldman of "trying to sell a shitty deal" to investors," which is, of course, true.

The rightwing blogs and Republican noise machine were not concerned with the obscenity of those huge profits and the raping of Main Street. No, they were upset that Levin said “shitty.” Wow. Talk about hypocrisy.

While the hearing was going on, Wall Street lobbyists were roaming the halls of the Capitol spending that $1.4 million a day to make sure we never get real financial reform, and Republicans again blocked debate. They blocked debate, not the bill.

Senate majority leader Harry Reid, D-Nev., is expected to again put the matter to a vote today to see if Republicans will stand up for Wall Street or Main Street.

10 comments:

Johnny C said...

Funny these were the same people giving high fives to Dick Cheney for telling Pat Leahy to go fuck himself on the floor of the senate. And Dick Cheney himself said that was his proudest moment on the low rated Dennis Miller(R-sold his soul for a 1.20) radio show.

As for Drudge dude was a two bit celb gossip reporter now right wingers view that site as some virtual bible. And I want to know who's funding Andrew Breitbart?

Because right wingers aren't even able to wipe their own ass without someone telling them how so I doubt one man or a group of right wingers can do the things they're doing without a big boss or bosses.

Back to the subject at hand, how long can the Republicans stand with Wall Street before people put two and two together before they realize gee maybe we shouldn't put them back in power? Another story I posted up was Wall Street is giving money to the GOP in time for the midterm elections.

Not Anonymous said...

Socialist Democrats are scared that they can't get another bailout included in the law. It's funny that the socialists blame Bush for the bailout in 2008 when Obutthead voted for it. Then it was Obutthead that did it again after his election. Now they want to make a $50 billion bailout part of this legislation.

The socialists are blaming the Republicans for blocking debate, yet each of the three votes have had at least 42 votes to block debate. One of the votes had 46 against debate. The Republicans only have 41 votes. So it's not only the Republicans filibustering this.

This will be like health care. The socialists will pass what they want, not include the Republican ideas in it, then when it's done, voted on and passed, we'll find out that what the Republicans were saying was true. Just like health care.

Republicans said that it would increase costs. Socialists said it won't. Now it comes out that HHS had a review that showed that costs will go up, but they withheld it so the bill could pass. In other words, they lied and now the people will pay while the socialists will collect.

One thing is certain, if you trust the socialist Democrats, you might as well bend over and spread your cheeks because they're going to ram it up your ass whether you scream in pain or pleasure.

Just 8 months until many of the socialist Democrats join the ranks of the unemployed.

Communications guru said...

You can’t defend the Republicans for protecting Wall Street, so you have to stoop to your usual tactic of name calling.

Once again, anonymous, there is no such thing as a socialist Democrat in this country, and that is a fascist Republican talking point.

“Socialist Democrats are scared that they can't get another bailout included in the law?” What the hell does that mean, anonymous? It’s Republicans, as usual, blocking reform. There is no bailout in this bill.

“Obutthead?” unbelievable. Bush was President and drafted the bailout plan, yet the hate at the Astroturf “tea parties” is directed at Obama, not Bush. No one ever said Obama did not vote for it.

I don’t know about the “socialists are blaming the Republicans for blocking debate,” but the Democrats are blaming the Republicans because it’s a fact. One Democrat, Ben Nelson, is voting with Republicans. What is your point, anonymous?

I don’t know what the socialists will pass, but the Democrats will pass what they want. It’s called majority rule. Ever hear of it, anonymous? There are no “Republican ideas in it” because they have none. Their concern is getting as much campaign cash as possible for doing Wall Street’s biding and not give the President a victory. I have no idea why you are so preoccupied with socialists. You should be concerned about American politics.

The only thing wrong with health insurance reform is it does not go far enough.

I “might as well bend over and spread your cheeks because they're going to ram it up your ass whether you scream in pain or pleasure? What a class guy, anonymous. You can apply your hero Dick Cheney’s famous words to yourself.

Like I said, every party in the White House loses seats in the mid-term, but the people will keep the Housie and Senate. Regardless, I’ll be out there knocking on doors and fighting for my country as it finally gets out of the ditch Bush drove it into.

Not Anonymous said...

The only thing you said that was truthful was "I have no idea..."

You're full of talking points and offer nothing new.

It will be interesting to see if you trespass on my property knocking on doors.

Johnny C said...

Not what are you basing your last statement on? The only group that's fire up on your side are the tea baggers and from their recent track record of election "success"you guys could be in a world of hurt.. And another question what can the Republicans run on?

Since President Obama was swore in last year the Republicans have offer nothing but saying no to everything and inciting bigots to violence..The Republicans based everything on stopping health care reform and they failed and the Republicans were shamed into allowing debate on banking reform.

Oh I did forget there's another group of people excited about giving money to the GOP and that is Wall Street bankers.

Communications guru said...

Unbelievable. You accusing me of talking points.

Correct, I have no idea what the hell you are talking about, and you can’t even explain what you meant.

Hey, anonymous you stick to the personal attacks because you have no facts.

If I knocked on your door I would not be trespassing, but I would not waste my time with you. I would only knock on the doors of people who are reasonable and aren’t right wing tools.

Not Anonymous said...

Good luck with that. We can smell perverts and socialist Democrats from two miles away.

Communications guru said...

Well, I’m neither, and I have never met anyone of those. I don’t want to meet any either, so I have no intention of ever wasting my time and knocking on your door, anonymous.

Johnny C said...

Again Not Anoyomous what are you guys going to run on? The economy is improving, the benefits of health care is going to be felt well before the election, Democrats are the side of main street while Republicans are fighting for Wall Street.

Now I'm not saying the White Power Party are not going to win seats but you guys can forget the right wing wet dream of reliving 1994.

Your party spent 2009 saying no and inciting the racist and they spent 2010 saying no and inciting racist.

VictorLove1 said...

anonymous

Show me a party that isn't corrupt, show me a politician that doesn't lie and tell me what country they are from 'cause it isn't the U.S.!

Karzai, Putin, and other non-democratic countries leaders are scorned for taking pay-offs and repubs and dems shout corruption, vote buying etc..

But our form of buying votes from
congress, thus muting the publics voice, is somehow not corruption?

How about the term, welfare.
Why is it welfare when some one needs a helping hand, who will eventually find a job and get back to living payck to payck thus keeping businesses and their down line suppliers in business. But tax breaks to the rich isn't considered welfare. 8 years of tax breaks should have been sufficient time for those monies to trickle
down, yes? Yes those tax cuts did result in 7 million jobs, but they were not long term jobs, other wise they would still be employed, yes?

If you have a snow covered hill, with a line of people from the top to the bottom and the person at the top builds a considerable sized snow ball and starts it down hill, ( now the person at the top is a politician, same for the person at the bottom of the hill and all the people in between are the gen. public) how is it the person at the bottoms fault for not stopping the ball before it hit the wall?

We have 535 people sitting up on the hill, every one of them holds a college degree of some sort, from some of the most prestigious colleges in the country, there are even ex-ceo's, and they didn't see the snow ball coming? PLEASE!

Neither party can extricate themselves from the current state of the union(?) PERIOD! They have the smell of the skunk on them and it will take more than a shower to get rid of the smell!

I am a Naturist, I live in peace and harmony and as one with Mother Nature, she's my pied piper! She doesn't lie or cheat or take legal bribes, and she takes care of me if I take care of her ( read between the lines if you dare), And yes, she will throw me a surprise every now and then to show me she's still in charge!

Get out of the dam city and if you open your eyes and register what you see, you will find the answers that you are looking for. And maybe some peace!