Republicans: On the Side of Wall Street, Not Consumers

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Over Sebastiaan van der Lubben

Journalist Maters & Hermsen, docent Internetjournalistiek Universiteit Leiden, politicoloog en blogger

2 thoughts on “Republicans: On the Side of Wall Street, Not Consumers

  1. Wall Street is Democrat. Wall Street gave almost twice as much money overall to Obama as it did to John McCain, and Goldman Sachs gave over three times as much to Obama as to McCain. Obama continues to look there for a big chunk of his billion-dollar 2012 war chest. Why does Wall Street support Obama even as the Democrats bash them? First, for all the bashing, Dodd-Frank left the big Wall Street players untouched, which one cannot say for small community banks, who now labor under a huge new regulatory burden — a burden which the big Wall Street firms can handle by just hiring some more lawyers and lobbyists. Second, the Fed, at Obama’s urging, has pumped trillions of dollars of virtually interest-free money into Wall Street, and that is in addition to hundreds of billions in outright bailouts. Third, Wall Street loves government debt because Wall Street makes a fortune in fees selling that debt.

    Big Business is Democrat. The sickening relationship between the Obama administration and General Electric is well-known. GE eliminates thousands of American jobs and lobbies for loopholes so it doesn’t pay any taxes, and then Obama names its CEO the voice of business on a prestigious commission on job creation. The quid pro quo smell is intense. Obama got the de facto endorsement of GE’s old NBC network, and GE got huge government subsidies and protected its tax loopholes. However, GE is just the tip of the iceberg. Federal economic regulators have always been captured by the largest interests they have attempted to regulate, and the regulations have then turned to disadvantage smaller competitors. And, as we’ve seen with Solyndra and other emerging “green tech” scandals, when they do start new small businesses, politically connected Democrat businessmen make sure to get big government subsidies for themselves.

    Big Government is Democrat. Big government looks after the big guys; therefore, the Democrats look after the big guys. The logic is compelling. If you really want to empower the people, do you locate government power close to the people in their states and local governments, or far away in Washington, D.C..

  2. Dat is in elk geval het beeld dat de democraten zouden willen creeeren. Ze hebben ook niet echt een andere tactiek over… ze kunnen moeilijk zeggen: kijk eens hoe goed het gaat. Inspelen op antisentimenten, frustratie en boosheid op ‘wall street’, terwijl ze zoals peter zegt daar zelf mee verbonden zijn, is het enige wat werkt.

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