Re: OT: Health care whackjobs protecting Hawaii

In article <-OCdnU7R--0p3uXWnZ2dnUVZ_qudnZ2d@xxxxxxxxxxxxx>,
"DGDevin" <dgdevin@xxxxxxxxxxxxxxx> wrote:

"Les Cargill" <lcargill99@xxxxxxxxxxx> wrote in message
news:hl7osk$qbs$1@xxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Yeah, like when Congress has deregulated to the point where banks and
insurance companies and investment firms have merged and become so big
that if they fail they pull down the economy with them. What a racket.

But that didn't cause any of this.

It sure helped, see AIG. The financial products division sells de facto
insurance on investments (except they don't call it that to side-step
regulation) which they can't actually afford to pay off if things go wrong,
and the massive losses in that division when GS and others knowingly bet on
their own investments tanking turns a previously profitable insurance
company into a basket case needing billions of taxpayer dollars. Citi and
others spent gazillions lobbying Congress to let banks and insurance
companies hook-up, they were so sure they would get their way they announced
the Citi-Travelers marriage before the legislation was even passed! So the
insurance division brings in billions which the financial division puts into
high-risk investments because the guys running the company care more about
their bloated bonuses than about the long-term health of their own company.
And when it all goes wrong who gets to pick up the pieces--why the taxpayer
of course, because these companies are now too big to be allowed to fail.
Didn't cause any of this? Pffffft.



I agree that the problem began with the election of Ronald Reagan in
1980, and continued through the administrations of George H.W. Bush,
William J. Clinton and George W. Bush.

The question is, are both sides of the aisle willing to do what it takes
to fix it? I'm confident that President Obama wants to, but he's being
opposed, and not just by Republicans.

Are corporate and banking lobbyists unstoppable? If so, what do they
truly want in the end? They have to realize that an economy with
virtually no middle-class cannot be based upon consuming goods and
services anymore.

Are USA workers going to become so beaten down that we finally become a
manufacturing nation again, but only at reduced wages that can compete
with Bangladesh, Brazil, China, the Czech Republic, Egypt, Ghana,
Hungary, India, Madagascar, Pakistan, Romania, Sri Lanka and Vietnam?

Is that the plan? Barefoot workers manufacturing shoes for export?

Tony
.

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