Skip to main content

View Diary: The Left Drops the Ball (244 comments)

Comment Preferences

  •  Even re-doing the Savings & Loan style (11+ / 0-)

    investigations and prosecutions and shutdowns, receivership, and reallocation of assets would be preferable to "nothing."

    The way Bush Senior handled the Savings & Loan collapse (brought about by deregulation, by the way, again) wasn't perfect, but hell, at least they went after the great majority of the boards and fraudsters (except letting Bush's son off easily), the S&Ls were closed down, their assets redistributed, etc.

    In other words, those who ran the S&Ls into the ground were not permitted to continue in place in any way, and many went to prison or paid hefty fines (probably not hefty enough, but still...).    And, by the way, there was an associated real estate collapse as well.

    This crazy concept that we have to leave Goldman-Sachs in place, Citi, Chase, BoA, with all their crooked dealings and fraudulent paper and outright lies is just INSANE.   Just as the S&Ls were closed down, redistributed, sifted free of crooks and reinstituted, so should all of Wall Street, the ratings agencies, the major national banks.

    Would it be hard? Hell yes it would.  The S&L collapse was extremely complicated too. But it was done.  

    What is lacking is 1) will and 2) the ideal or internal belief that crooks should not continue to operate as usual.  And those are both lacking in our country's leadership today, starting at the White House.

    The country would gladly gather behind a leader who went after the people whom the nation rightly sees as responsible for this mess.  That Obama's ratings are falling and falling at least partly reflects his lack of attention to the nation's anger at the big banksters.

    Progress occurs when courageous, skillful leaders seize the opportunity to change things for the better. -- Harry S Truman

    by YucatanMan on Sat Oct 01, 2011 at 12:20:30 PM PDT

    [ Parent ]

    •  It's not lack of attention. (0+ / 0-)

      He's just a bought and paid for member of the oligarchy.  I know he talks a good game, and FSM knows I bought it for a while, but there's only one way to explain Obama's actions.

      Obama's just another oligarch a-hole.  Part of the problem.

      The two things Teabaggers hate most are: being called racists; and black people.

      "It takes balls to execute an innocent man." -- anonymous GOP focus group member on Rick Perry

      by Punditus Maximus on Sat Oct 01, 2011 at 11:01:42 PM PDT

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site