June 9 (Bloomberg) -- Former House Speaker Newt Gingrich said President Barack Obama’s plan to fix the economy through stimulus spending and government intervention to boost companies like General Motors Corp. has “already failed.”
And this is distinct from threatening Congress with "martial law" and managing to steal $700 billion for a "revolving charge card" in 2008, along with Paulson's bone-smoking games with Donaldson of the SEC in 2004, exactly how?
Let us not forget this essential fact:
But for the actions of Henry Paulson before the SEC in 2004, specifically, the lobbying he personally engaged in that led to the removal of broker/dealer leverage limits that formerly constrained investment banks to 12:1 gearing, neither Bear Stearns or Lehman, both of whom were covered by the former limit, would have failed.
Had Henry Paulson not been able to "save" his former employer Goldman by siphoning more than $13 billion through AIG, and more than $100 billion in total, to cover bets Goldman made to "hedge" which Goldman either knew or should have known AIG did not have the capital to back, Goldman might have also blown up along side Lehman and Bear Stearns!
Gingrich is 100% full of crap blaming Democrats for this and trying to deflect attention from his own party's outrageous and radical failures in this regard.
Senate Minority Leader Mitch McConnell of Kentucky said Obama has a “radical agenda.” Republicans have “watched them take over banks, insurance companies, auto companies,” he said, “and now they want to take over your health care.”
As distinct from the bailout of GM and Chrysler that happened by the Republican Treasury Department during George Bush's Presidency, along with the guaranteeing or otherwise backstopping of nearly $10 trillion in bad paper by your Treasury department and Fed during the Bush Presidency?
“We are becoming a weak nation,” said Voight, calling Obama a “false prophet.” Republicans need to find their way back to power to free the nation from “this Obama oppression,” he said.
Yeah, ok.
You folks in The Republican Party seem to have forgotten that "conservative" does not mean simply shooting terrorists.
It also includes:
- Locking down the goddamn southern border and deporting the illegal immigrants, along with arresting all their employers, instead of sucking off your corporate bribery sources who want illegal immigrant labor because they can cheat the tax man, pay less than minimum wage, and screw those who want to come to America legally, thereby destroying the wage base of this country and the tax base at the same time, pocketing the difference.
- NOT bailing out the failed. When you come to The SEC and ask for leverage limits to be removed and then blow up as a consequence the proper remedy for that sort of stupidity is called BANKRUPTCY.
- NOT spending more than you make. Medicare Part "D" anyone? Kennedy's education bill anyone? You want to spend more, you figure out how to obtain the revenue to do so.
- NOT ordering states to stand down in their protection of citizens from predatory lending, never mind the OIG's report showing that under Bush's government OTS actively conspired with thrifts to commit accounting fraud and thereby cost the FDIC insurance fund more than 2/3rds of its funds!
In short, The Republican Party has become the party of fraud and abuse.
That, Mr. Gingrich, is why Republicans lost in November.
If I'm going to get bent over the table I will always choose the guy who tells me up front he's going to do it so I have time to assume the position and get ready for the assault, as opposed to being randomly and repeatedly raped by those who run on a platform of "conservatism" when in fact their policies amount to raw theft and fraud from The American Taxpayer for the benefit of those who generate the largest amount of bribes, er, "campaign contributions."
Go %#@^ yourself (perform an anatomically-impossible act) Mr. Gringrich.
Oh, and don't call me again looking for money. I'll simply repeat what I wrote here, and be none-too-polite about it.
Disclosure: I'm a lifelong Republican but I cannot vote for a party that practices and supports "in your face" theft, fraud, and financial rape.
No comments:
Post a Comment