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Originally Posted by Charlatan
Again... pointing fingers at either party is counter-productive. What we really need to do is address the ideology behind the thinking that deregulates and makes the market *more* laissez-faire. Neoliberalism is a scourge of *both* the Democrats and Republicans.
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If I recall, this was my point. I felt that Nancy Pelosi was being very counterproductive, which was no surprise. That word sums up her entire career.
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Originally Posted by Charlatan
From where I am sitting, this looks like a play to keep the more left leaning Democrats (who are increasingly likely to win this coming election) from implementing the worst of their policies (and by worst I mean those policies that will have a negative impact on the economic system the neoliberals have brought about). There is nothing like a crisis to bring about new calls for "fiscal responsibility," "austerity," "cuts in public funding," and "privatization."
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I'm still confused as to whom you mean by "neoliberals." Obama? Franklin Raines?
(See video below)
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Originally Posted by Charlatan
If you look back, you will see that there was a big shift in Bill Clinton's policies on the campaign trail and what he implemented a few months later once he took office. I suspect the same will occur with Obama if he wins. The leader of *any* country only has so much power. Those who control the economy are the real power brokers.
And no... it's not a conspiracy. It is an ideology. There is a big difference.
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Yes, I remember Bill Clinton campaigning on a middle-class tax cut, and magically converting it into a tax increase once he was elected. Considering that Obama is still promising a tax cut for 95% of Americans, nay, a tax CREDIT for some of them, it is safe to assume he is lying. Any other interpretation would mean he is not the brilliant man he is portrayed to be. Unfortunately, a great many naive twenty-somethings can't see through these lies, and they are happily anticipating their tax cuts.
The video is below. I wish they hadn't added the plea at the end, but it definitely shows why the Republicans couldn't get regulatory reform, and it shows the kind of man Obama chose for his economic advisor.
http://www.youtube.com/swf/l.swf?swf...s=1&fs=1&hl=en
-----Added 2/10/2008 at 02 : 38 : 30-----
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Originally Posted by dc_dux
And yes support of Fannie and Freddie was across the board.
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If the board was composed entirely of Democrats, you are correct.
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Yep...the influence of money is also across the board. One small differences is that the Dems money is more from individuals and the Repubs more from PACs
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Another difference is that in only four years, Obama collected more money than anyone except Chris Dodd. More even than John Kerry.
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Nope...I dont think it did....and w/o looking at the Record, it is reasonable to assume that of the opposition on the committee was from borth sides of the aisle or it would have been reported out.
But you know there was unanimous Democratic opposition on the committee, how? do you have the committee vote?Status:
Occurred: Introduced Jan 26, 2005
Last Action: Jul 28, 2005: Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
S. 190 [109th]: Federal Housing Enterprise Regulatory Reform Act of 2005 (GovTrack.us)
i dont know where you got the idea that "the Republicans saw such a united Democratic front on the floor that they never brought it to a vote". The logic defies me. Remember, this was when the Republicans had a 55-45 majority in the Senate.
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The bill did made it out of the committee on July 28th 2005.
It was "reported on" (which means it passed through the Banking, Housing, and Urban Affairs committee) to the Senate's Republican conference chair - at the time Rick Santorum - who never placed it or moved on the agenda for a floor vote. Because they did not have the 60 votes required for cloture, he and the Republican leadership let it die.
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I also think, but dont know for certain, that McCain could have stuck his name on the bill as a co-sponsor after it was DOA in the Banking Committee. He was not an original sponsor.
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That statement has popped up from time to time. Actually, he signed onto it after about a year of the Dems stalling it in committee. As is pointed out above, it was never DOA.
He also said the following:
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For years I have been concerned about the regulatory structure that governs Fannie Maie and Freddie Mac ... and the sheer magnitude of these companies and the role they play in the housing market ... the GSE's need to be reformed without delay.
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Senator John McCain
5-25-2006