Obama, Wall Street Regulations, And History: Republicans And Wall Street Support

Barack Obama has been criticized by many people, ill informed, for offering aid to Wall Street to keep the country from a complete financial collapse in 2008-2009! Of course, many forget that the move to protect Wall Street was begun by George W. Bush and his Treasury Secretary, Hank Paulson!

But there are critics of Obama who fault him also for working to promote financial regulation reform, and ironically, they are the people on Wall Street, who have no appreciation of how much Obama has been attacked for saving Wall Street!

The evidence is that Wall Street is giving much more political campaign support to Republicans than Democrats! Wall Street is apparently punishing the Democrats for pushing financial reforms!

But actually, if one examines history, what does one discover? The reality is that Wall Street almost always has favored Republicans in campaign donations, and in wishing Republicans to hold public office!

Any why is that? Because the reality is that the Republican Party does not believe in financial regulation reform, and has always favored big business interests overwhelmingly as compared to Democrats!

This is not only true now, but throughout the history of the Republican party–during the Gilded Age, the Progressive Era, the 1920s, the New Deal, World War II and after, the 1960s, 1970s, 1980s, and the Clinton and Bush years!

Anyone who studies the history of the United States would understand that the GOP is the favored party by big business interests! And the Republicans in Congress now have been making regular trips to Wall Street, and been making clear to the bigwigs there that they will do everything to prevent strong legislation that the American people want to prevent a similar financial meltdown in the future!

So why is it that the average American seems oblivious to the truth about Wall Street and the Republicans? Part of it is bad communication by the Democratic Party, and part of it is pure propaganda, and ignorance of ordinary Americans, who if they understood the truth and the history of the GOP, would not ever vote Republican!

But of course, the answer is that the Republicans are very good at promoting emotional “social” issues, such as gay rights, abortion, and illegal immigration, as methods to stir up the average Americans to vote with their prejudices, rather than their brains!

In the past, the Republicans used the Civil War (waving the “bloody shirt”) and fear of Communism (McCarthyism and the Red Scare) to gain support! Now they use different issues as they continue to promote the interests of big business and Wall Street, and they may succeed in again “scaring” Americans into voting against their own interests! 🙁

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