charlabob
JoB, bailing out BS (!) absolutely didn’t help homeowners (unless you’re a firm believer in trickle down economics and I haven’t felt any drops for years.) Because of the deregulation that started with Reagan, we’ve had no regulatory control, especially over the “new financial institutions”, such as hedge funds.
Now the Repugs are scurrying around to try to make it look like they’re doing something — giving the Fed power to “investigate” without any regulatory or enforcement power.
Sadly, some of the employees of BS are about to lose their jobs and see much of their retirement disappears because it was invested in BS. Shades of Enron. And the deal might still fall through because the big kids are fighting to get bigger pieces of the pie. Original offer – 2.25; now upped to 10.25 and the FED isn’t necessarily willing to back that. Oh, yeah, and the CEO of BS sold stock at 10.50 before he went off on his golf and bridge vacation — three days before black Friday.
Corporate welfare, incentivizing offshoring and tax avoidance — these are all just acceptable –but g-d help us if we propose increasing the number of kids who get subsidized health care because some of them might be UNdeserving.
Yup, electing more Democrats will help — electing *a* Democrat at the top won’t, unless (s)he has a supporting cast. And if either of our leading candidates brings back Robert Rubin, I will just scream!!!
Barney Frank and Charlie Rangel, heads of House and Senate finance committees, have the most realistic plans to help the economy. They start with lowering corporate taxes and closing the loopholes.
I’m just suffering an attack of fed-upness, as I admitted before, because individuals have to prove “they did everything right,” before they “deserve” consideration and corporations just say “gimmee.”