Member of the reality-based community of progressive (not anonymous) Massachusetts blogs
This whole post by Devilstower over at Dailykos sums it up just perfectly. A taste:
Until recently, this boom-bust “business cycle” was kept in check by some measure of pragmatism. But a funny thing happened in the 1980s. As unrepentant conservatives took their fantasy of pure capitalism out of textbooks and into government, the swings of the cycle became ever stronger. Thoughtful, practical action fell out of style as people increasingly internalized the idea that laissez-faire capitalism was somehow related to democracy.
[snip]
Government now has a hard time stepping in to help not just because Republicans have taken the position of preventing government of playing its traditional role, but also because Republicans spent us into such a pit of debt that the government isn’t well positioned to shoulder the burdens of business gone sour. We should be able to afford a stimulus plan much larger than the one already established. We need such a plan, along with direct intervention in the job market, and swift re-regulation of the financial instruments used to take the nation to the brink.
The whole thing pretty much follows my thought on the matter, but he puts it way better than I ever could. How many times do we have to prove that bad crashes follow Republican deregulation?
Is there a point at which regulation is too onerous? Of course. I am not advocating being mid-century Russia. (Even if every conservative calls us anti-capitalism and commies and whatever else.) However, what a true progressive is, is very pro-capitalist - just that we are realists about what capitalism can and cannot deliver. It’s not the best way for every thread in the social fabric. If we have learned anything from Reaganomics, can’t we learn that? Hell, just look at your HMO premiums sometime, or your credit card interest rate. I guarantee you less regulation in either field will yeild even crappier and more expensive and painful results than we already have.
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November 15th, 2009 at 4:45 pm
The whole point of the New Deal was to save capitalism from itself, cries of socialism notwithstanding. I would suggest crossposting on BMG.
November 16th, 2009 at 9:12 am
“For years I have been concerned about the regulatory structure that governs Fannie Mae and Freddie Mac–known as Government-sponsored entities or GSEs–and the sheer magnitude of these companies and the role they play in the housing market. OFHEO’s report this week does nothing to ease these concerns. In fact, the report does quite the contrary. OFHEO’s report solidifies my view that the GSEs need to be reformed without delay.” — Senator John McCain speaking on the Senate floor, pushing for regulation, on May 25th, 2005
Do you honestly see everything as a partisan issue? Sure, it’s fun to “blah blah commie”, “blah blah blah fascist”, but at the end of the day both parties serve the same corporate interests.
To my point, if the Democrats are the party of regulation and the Republicans are bad fat cat greedy machines, where was the Democratic support of regulation when McCain introduced legislation to regulate Fannie Mae and Freddie Mac back in 2005?
Life is not a simple matter of black and white, and no person’s view of the political process should be simplified this way, either.
For the record, I am not a Republican nor am I a Democrat as I see both parties as part of the problem and incapable of rational discourse in the pursuit of real solutions.
November 16th, 2009 at 11:37 am
First: Dems are a damn sight better on that than Republicans. By a long shot. Would we even be talking about health care or regulation or any of this under a President McCain and Majority Leader Boehner?
Secondarily, I see the Dem’s main problem is that they cave too quickly to the minority Republicans in order to look inclusive. There is a contingent of corporate Dems but it’s the caving that’s the problem.
Thirdly, I come from the school of fix it from inside. More and better Democrats. Trying to elect the ones who will work for the constituents instead of special interests. So yes, it’s a problem, but I’d rather have the problem of trying to hold Democrats to their core values as Democrats than trying to fight Republicans who are just interested in lining the pockets of the rich 100% of the time. And pretending that they’re helping the middle class and poor while doing it.
November 16th, 2009 at 12:20 pm
I believe that Democrats are just as interested in lining their pockets and the pockets of their special interests as Republicans. Both parties are guilty.
I don’t care which side of the aisle they are picking my pocket from or what they pretend their motivation to be. Career politicians are killing this country.
The current administration, with a Democrat-controlled Congress, just pushed out hundreds of billions in taxpayer dollars to financial and insurance companies. Saying that the Dem’s “cave in” feels like a cop out to me. They are guilty of systemic corruption, right there with the Republicans that you love to hate.
And yeah, I’m playing the other side of this on right-wing boards. We all need to come together and bring the power back to the people.
November 16th, 2009 at 9:45 pm
Yeah Baer! The BEST soultion is NOT the lesser of TWO evils!
November 16th, 2009 at 11:49 pm
Everything you need to know about Congress is summed up by this article:
http://www.nytimes.com/2009/11/15/us/politics/15health.html
November 17th, 2009 at 9:14 am
@M.L.: THANK YOU for posting that link.
@Corey: That sums up the way I feel. The lesser of two evils is still evil. We should be demanding more from our public SERVANTS.