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Thursday, March 17, 2011

Politics But This Will Help Create Jobs, Right, Guys?

Posted by Paul Constant on Thu, Mar 17, 2011 at 12:57 PM

House Republicans are trying to figure out how to do the bidding of their corporate masters while still looking like grassroots, jus'-folks common-man heroes:

House Republicans are taking a cautious approach to dismantling the Dodd-Frank financial reform law to avoid rattling the markets*, a top Republican says.

While House Republicans made a broad bill repealing healthcare reform — another major piece of legislation from the last Congress — a top priority upon assuming the majority, the GOP is taking a much more deliberate** approach in its effort to roll back financial reform...Republicans might want to take on politically charged items like funding for the new Consumer Financial Protection Bureau (CFPB), but “realistically, that’s probably not going to be moving in the Senate,” [Republican New Jersey Rep. Scott] Garrett said.

Most liberals agree that Wall Street reform didn't go far enough, but Republicans can't even stand the minor improvements made in the bill.

* "To avoid rattling the markets" here probably means something like "to avoid being on TV news."

** For "deliberate," read "weaselly."

Comments (8) RSS

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Christ, the Dodd-Frank bill was practically drafted by Goldmann Sachs as it is, so sure, let's repeal it and then take another crack at getting actual reform, like the obviously needed reinstatement of Glass-Steagall.

Posted by OuterCow on March 17, 2011 at 1:22 PM

Hey Assholes, you only control 1 half of 1 branch of the government. You can't do shit about the CFPB. Why do you bother?

Posted by Max Solomon on March 17, 2011 at 1:25 PM

Right now, today, the ECB is forcing Ireland to raise its unsustainable corporate income tax rate and stop exempting MSFT and other corporations from taxation.

Now THAT is prudent fiscal action.

Tax cuts for the ultra-rich and for corporations are the exact OPPOSITE of what you should do during a fiscal downturn.

Rich people export capital worldwide or save it - they don't spend it like the poor and the middle class do.

And, no, if you make $250,000 you are NOT middle class. Even if you live in NYC.

But OuterCow is right, reimposing Glass-Steagal and canceling the 15 percent tax rate (instead of 28 percent) for hedge funds would be good moves too.

Posted by Will in Seattle

on March 17, 2011 at 1:30 PM

Oh, c'mon, stop all the hating! You know that the GOP can't start the job of creating jobs and a healthy economy as long as there are Democrats running around. First, they have to destroy everything that any Democrat has ever done. Once that's safely in the bag, THEN everything else will fall into place. Nothing, but NOTHING can start until everything liberal/Democrat has been eradicated.

Because liberals are fanatics. And America is being destroyed by fanatics, now, isn't it?

Posted by Some Old Nobodaddy Logged In on March 17, 2011 at 1:45 PM

Who the fuck does Garrett think he's fooling (besides the willingly deluded Gullible Old People in his own party)? Everyone and their kid sister already KNOWS that EVERY bill coming out of the GOP-controlled House is DOA upon arrival in the Democratically-controlled Senate. And if not there, it'll die on Obama's desk.

All they're doing is playing to their base and spinning their wheels in a blatant attempt to make the Dems look bad to the still-faithful when all their half-baked, giving-YOUR-our-money-to-the-filthy-rich legislation gets shot down in the other chamber.

Posted by COMTE

on March 17, 2011 at 2:46 PM

6 Comment Pulled (Spam) Comment Policy

7 Comment Pulled (Spam) Comment Policy

can someone please stop this 527 trillion dollar monster. I don't give a fuck how, fucking fix it. It's clearly broken, it clearly doesn't work right, it clearly isn't creating jobs. FIX IT. *tap tap* this thing on?

Posted by watchout5