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Here's what you said above Gabe...

January 20 2010 at 11:25 PM
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  (Login Pepsidiver)
Forum Owner


Response to True, but seeing that I work in finance...

 
"Let's not forget that it was a largely republican controlled government that spent 8 years raping the economy canceling services left and right and creating a finacial clusterfunk of such epic proportions that collapsed the economies of several countries and almost bankrupted our own."

Well buddy maybe you should do your homework. Lets see what the Democrat Bill Clinton did when he had the ball shall we:

Clinton's welfare reform bill, signed on August 22,1996, obliterated the nations social safety net. It threw 6 million people, many of them single mothers, off the welfare rolls within three years. It dumped them onto the streets without child care, rent subsides, or continued Medicaid coverage. Families were plunged into crisis, struggling to survive on multiple jobs that paid $6 or $7 an hour, or less than $15,000 a year. And these were the lucky ones. In some states, half of those dropped from the welfare rolls could not find work. Clinton slashed Medicaid by $155 billion over a five year period and cut $25 billion in Medicaid funding.

The Clinton administration, led by Lawrence Summers, signed into law the Financial Services Act of 1999, which ripped down the firewalls that had been established by the 1993 Glass-Steagall Act. Designed to prevent the kind of meltdown the U.S. is now experiencing, Glass-Seagall established the Federal Deposit Insurance Corporation. It set in place banking reforms to stop speculators from hijacking the financial system. With Glass-Steagall demolished, and the passage of NAFTA, the Democrats, led by Clinton, fell into bed with the corporations and Wall Street speculators. They used institutions like Fannie Mae and Freddie Mac as a welfare gravy train. And many of the architects of this deregulation, economists such as Summers, remain in charge of the nations economic policy today.

So Gabe, before you spout off with your financial creditability, do some homework and see who the real makers of what is going on right now are.

It looks like the U.S has more problems than what party is in power though, you seem to have a systemic problem with your whole financial culture.

Todd.
OSWF Owner.



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This message has been edited by Pepsidiver on Jan 20, 2010 11:28 PM


 
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