Radical/Progressive Queer News and Commentary
from Memphis, Tennessee
Friday, September 26, 2008
Are Democrats Being Duped (Again)?
Given their past history, I don't have much faith in the Democratic Party leadership in Congress to stand up to Bush and the GOP. Bush's economic crisis has given Democrats a perfect chance to for once and for all KILL the conservative "free market" nonsense that created this crisis. They should stand up to Bush and Wall street.
Instead, it looks like the Democrats (Pelosi & Reid) are trying to work with Bush to bailout Wall street, while conservative Republicans have killed the Bush bailout and side with the American people against the taxpayer bailout. Why are the Democrats HELPING Bush again??
The Bush Administration is clearly trying to forestall the coming economic depression until after the election. Why should Democrats be supporting the Bush rescue plan instead of defending taxpayers against Wall street and the corporate rich? Isn't it clear that John McCain and the House GOP wants to link the Democrats to the Bush Bailout ("socialism") and try to portray themselves as "populists" defending "mainstreet" against "Wall Street"?
It will be a political disaster if the Democrats side with Bush and the Republicans take credit for opposing the Bush bailout of Wall street!
----- And as someone pointed out to me, Bill Clinton and the Democrats did help create this crisis by implementing some of the de-regulation that Wall Street bankers like Robert Rubin wanted. (It was his Secretary of the Treasury , Robert E. Rubin, now an Obama advisor, who helped to do away with come of the regulatory power of the Glass-Steagall act in 1999. That change set the stage for the current crisis in capitalism.)
Read how the Bill Clinton and the DEMOCRATS contributed to the current crisis by supporting deregulation of the financial industry: