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View Diary: WHY WE’RE SCREWED (232 comments)

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  •  We need to recognize that Democrats are a big (1+ / 0-)
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    left of center

    part of this problem. Our party leadership has embraced the Third Way, DLC, blue dog nonsense. Our leaders share much of the blame for the financial disaster. And no, I am not talking about Freddie and Fannie. The problem with Freddie and Fannie had to do with both of them investing in derivatives, not in loaning money to unqualified borrowers. Democrats castrated the ability of the CFTC to regulate derivatives and eliminated Glass Steagal. Remember "The era of big government is over" from Bill Clinton? Remember welfare reform? Remember that half of the stimulus was worthless tax cuts?

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