I wish that our President had spent more time studying F.D.R’s playbook instead of referencing former President Reagan in his previous speeches. I am sure that he referenced Reagan maybe in the hopes of appealing to Reagan’s base, but that is only a waste of time. F.D.R’s brilliance came from undestanding how his class manipulated tax codes, stock markets and exploited people; that is how and why he crafted and created the agencies, programs and influenced those around him to do the same on the legislative front. We have all of this economic history and data and it apparently is being left unused. We should have reinstated Glass-Steagll immediatly after the Great Recession, even before instituting TARP, that would have made our financial system a lot safer. If anyone has been paying attention lately to low gas prices, we are in another bubble; this time it is of the energy kind and our homegrown natural gas industry with all of its debt collateralized by derivative deal packages may come crashing and hello to another bailout because the Big Banks are up to their necks in this bubble. Moreover, congress has not only put the taxpayers on the hook for these derivative type deals, but they also included what they call a “bail in” where banks can seize accounts to recapitalize their reserves, it has been done in Europe over the past several years. I think that we should be supporting all of the progressive democrats such as Van Hollen, Warren, Brown and Franken; they are much more concerned with the overall health of our economy than the Republican Party ever will be and it would send a strong message to our President; that he needs to stay focused on the working people and to let Wall Street fend for themselves; if they are truly the geniuses that they portend to be, they can figure their finances out on their own, we should not be the fall guy every single time they make huge mistakes.
read the article: