On Wed, 11 Aug 2010 06:46:29 -0700 (PDT), Jack
wrote:

On Aug 11, 6:09*am, bpuharic wrote:
On Tue, 10 Aug 2010 20:28:11 -0700, Canuck57
wrote:


obama is, hopefully, doing the responsible things; re-regulating wall
street (done); allowing some of the bush giveaways to the rich to
expire (biggest factor in the deficit), etc.

"Myth #1: The 2001 and 2003 tax cuts wiped out the $5.6 trillion
surplus for 2002–2011.

Fact: They caused just 14 percent of the swing from projected
surpluses to actual deficits.

well no. when the economy tanked they were responsible for the fact
that the deficit was as large as it was. they are the single largest
factor in the deficit

http://www.cbpp.org/cms/index.cfm?fa=view&id=3036


yeah. i suppose that's why he imposed regulations on wall street that
the GOP fought...and the GOP is fighting to preserve tax cuts for the
rich even though we have to BORROW money to pay for them

" Most Senate Republicans voted against the measure, saying it doesn’t
go far enough to prevent future taxpayer-funded bailouts of Wall
Street firms and creates thinecessary new bureaucracy in the
consumer bureau

.. the fact is the GOP congress in 2001 and 2003 passed tax cuts that
focused on the rich


when the economy was destroyed by the rich and their CDO's...as
revenues plummeted due to middle class wage earners losing their
jobs...the bush tax cuts became the largest single factor in the
deficit

and the fact is the GOP didn't like the bill because it DID regulate
wall street...the GOP being in favor of no regulations...a failed view
of economics

in fact, shortly before the vote on the bill, GOP leaders met with the
CEO's of the largest financial houses

http://www.washingtonpost.com/wp-dyn...042003323.html

so your pravda like view of reality doesn't tell the full story.

and the protection bureau?

when has the GOP EVER passed a bill to protect the middle class?

OF COURSE they oppose it!

they're fundamentalist free marketers...even though the DATA shows
their view is WRONG


“There is little in this legislation that will fundamentally change
the way that Wall Street does business,” said Dean Baker, co-director
of the Center for Economic and Policy Research in Washington. “There
is probably no economist who believes that this bill will end the
risks of too-big-to- fail financial institutions. The six largest
banks will still enjoy the enormous implicit subsidy that results from
the expectation that the federal government will bail them out in the
event of a crisis.”

well it seems you're missing the point. the point is not that this
bill will prevent PAST abuses..but FUTURE ones. it does so by

1. banning proprietary trading
2. forcing banks to write a 'living will' so that the govt can bust
'em up if they start to fail

The tax cuts have little to do with the deficit. No meaningful
regulations, and the republicans wanted more. Do you really believe
the crap you write?

really? where's your evidence? because i just posted mine

WHERE IS YOUR DATA?

all you have is GOP mouthpieces telling us how wonderful wall street
did for the economy in the last 3 years.