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Millions More Thrust Into Poverty

Sandhusker

Well-known member
It makes you wonder what would of happened had Bush's call for reform and additional regulations on Fannie and Freddie not been blocked by the Democrats, doesn't it, Reader?
 
A

Anonymous

Guest
Sandhusker said:
It makes you wonder what would of happened had Bush's call for reform and additional regulations on Fannie and Freddie not been blocked by the Democrats, doesn't it, Reader?

Or if GW hadn't have opposed and ultimately blocked (against the advice of the Secretary of Treasury)-- his own Congress's supported reform and regulation bill- introduced by Congressman Michael Oxley (R- Ohio) and then-chairman of the House Financial Services Committee -- instead sticking his old buddy James B. Lockhart in to be overseer of them as the new head of the Office of Federal Housing Enterprise Oversight (an idiot that had no financial regulation experience)....

But ultimately- as was shown in the Madoff hearings the other day- the deregulation of the late 90's early 2000 period- plus 20 years of Greenspans promoting deregulation which took the regulatory agencies (FTC, SEC, CFTC, etc.) down to just being namesakes-- and Bush's fasttracking of a do no regulation attitude in them- would have eventually brought about the Bush Bust anyway....You can have all the laws and rules in the world--but if you tell your people not to enforce them- they do no good....

As the whistleblower in the Madoff case testifyed-- White Collar crimes- many committed by multimillionaires and giant corporate conglomerates- are the most dangerous crimes we face today- not drugs, or murders, or rapes- as white collar crimes not only touch everyone- but they can bring a nation down....And for the last several years the Administration has looked the other way to white collar crime....
 

Sandhusker

Well-known member
We've been through this before, OT. Remember this quote, "They are convinced, Mr. Hennessey said, that the Oxley bill would have produced “the worst of all possible outcomes,” the illusion of reform without the substance

You thought I'd forget that, didn't you?
 

hypocritexposer

Well-known member
This is a very long, but good article.


Getting Ahead in America

RON HASKINS

America's familiar debate over income inequality conceals and confuses at least as much as it reveals. To hear most journalists and activists tell the story, our country is the scene of a rampant and long-running economic travesty, as the rich grow richer, the poor grow poorer, and the distance between them belies the promise of America even in times of prosperity. As President Barack Obama put it during his 2008 campaign: "While some have prospered beyond imagination in this global economy, middle-class Americans as well as those working hard to become middle class are seeing the American Dream slip further and further away."

Such arguments are generally marshaled in the cause of expanding social-welfare programs aimed at transferring wealth from the rich to the poor, thereby combating both poverty and inequality. Opponents of such programs have usually not engaged the inequality argument directly, instead contending against the growth of government or pointing to the failure of some welfare programs to achieve their stated aims.

But in so arguing, both sides too often miss the point. Those enraged by inequality tend to be careless with their statistics, often painting a distorted picture of American life. Their opponents have accepted these false premises, rejecting only the solutions the outraged wish to pursue. Both sides ignore the real threat to the American Dream.

20090831_Figure3Haskins.jpg



What, then, should policymakers do to help spur economic mobility in America? In our recently completed book, Creating an Opportunity Society, my Brookings colleague Isabel Sawhill and I argue that the latest data and analyses of this vexed question point to a familiar answer: that the best way to increase opportunity is to encourage strong families, more education, and full-time work.

http://www.nationalaffairs.com/publications/detail/getting-ahead-in-america
 
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