Day: April 18, 2010

Obama, Wall Street Regulations, And Mitch McConnell

One would think the collapse of the economy in the Fall of 2008 would motivate everyone in Congress to promote strict regulations of Wall Street, so that what happened can never occur again!

It was lack of regulation that allowed the Wall Street abuses to happen, but apparently that does not affect the Republican opposition, most of whom seem dedicated to prevention of any real regulatory reform!

Well known as friends of Wall Street, they now are trying to play a shell game, and claim that all bailouts must be prevented in the future, when many of them backed the original bailout that took place under President Bush!

Despite Tea Party protests, it is a fact that the so called “bailout” saved the country from a worse economic downturn, and much of the bailout money has been paid back by the banks, insurance companies, and auto companies, and the rest will be paid back.

Would it have been better to do nothing, and let the economy slip into a total depression? Why is it that now when it is urgent that reform be accomplished, suddenly the GOP is acting like an innocent child, as if they had nothing to do with the lack of regulation during the Bush era?

It is good to see President Obama declare that, just like with the Health Care legislation, he will not allow GOP intransigence to stand in the way of essential reform! It is time for action, no matter what Mitch McConnell, Senate Minority Leader, or anyone else does to block reform! It has been the height of hypocrisy for McConnell to attack the legislation, when he is well known for being close to Wall Street financiers! What a disgrace! 🙁

Obama And The Nuclear Security Summit

President Obama accomplished a great agreement at a Nuclear Security Summit held in Washington, DC last week.

47 nations agreed to track down all nuclear material over the next four years, and the goal of the meeting, a gathering of more nations than at any time since World War II, was to work together to promote the eventual elimination of all nuclear weapons.

This comes on top of the Russian-US agreement to cut nuclear arsenals by one third, with verification means to insure that both sides keep the agreement.

What Obama did this past week is the fulfillment of what, ironically, President Ronald Reagan promoted as a goal, when he made arms agreements with Soviet leader Mikhail Gorbachev.

This is something, therefore, that all should embrace, but instead, predictably, conservatives and Republicans are forgetting what Reagan enunciated in his second term in office, and already promise a battle over the strategic arms reduction treaty (START) when it comes to the Senate.

This will happen, despite the fact that Republicans from earlier administrations have spoken up in favor of the treaty and the move toward nuclear security. But rather than unite around the danger of nuclear proliferation and attempt to promote progress on this, the opposition would rather use it as a political issue, so the treaty will incite a new struggle! 🙁

Bill Clinton Compares Oklahoma City Bombing Atmosphere To Today

Former President Bill Clinton has warned that the country is in a dangerous political environment similar to 1995, when we saw anti government militias spewing forth anti government rhetoric, which influenced Timothy McVeigh to make the decision to bomb the Oklahoma City Federal Building on April 19, 1995, killing 168 and injuring a thousand people.

This was the greatest domestic terrorist attack in US history, and many are concerned that as the 15 year anniversary of that event comes on Monday, that a similar event might happen.

Clinton pointed out that he was not criticizing those who wish to be critical of government, but the hot political rhetoric fuels the fires of extremists who go too far. He referred to Michele Bachmann at a Tax Day Tea Party rally calling the government a bunch of “gangsters”, which he said is not acceptable language, as the people running the government were elected by a majority of the American people.

Clinton pointed out that with the growth of the internet, the danger of extremist and violent groups to organize and conspire has grown, so he expressed his hope that we could keep our political opposition within legal bounds.

Monday, April 19, will be a day that all law abiding Americans will watch to see that we can keep our disagreements and anger within legal means!