The JOBS Act — They Have Very Short Memories

[White Eagle]

It looks like Dems are joining the GOP in this bill and Obama likes it too. It will undo all the regulations made to protect investors and us from another Bank failure, just like what happened already.

http://www.nytimes.com/2012/03/11/o...has-a-very-short-memory.html?_r=2&ref=opinion

The JOBS Act — They Have Very Short Memories

House Republicans, Senate Democrats and President Obama have found something they can all support: a terrible package of bills that would undo essential investor protections, reduce market transparency and distort the efficient allocation of capital.

Of course, supporters don’t describe it that way. They say the JOBS Act — for Jumpstart our Business Startups — would remove burdensome regulations that they claim have made it too difficult for companies to raise money from investors, impeding their ability to grow and hire.

There is a petition to your Senators here:

http://action.citizen.org/p/dia/action/public/?action_KEY=9845

Bipartisan Blunder
Tell the Senate to Reject the Deregulatory “JOBS Act”

 

[Orlandude]

Unfortunately, the bill is a wish list for corporate lobbyists — and it has nothing to do with creating jobs.

 

[Benvolio]

Free enterprise works, Socialism does not. And, yes the more government control, the more socialistic it is. The meltdown was largely the result of regulation, not the lack thereof. Laws required the banks to make loans to poor people who would have difficult paying, as a condition to making other good loans. The entire purpose of the Democrat laws were to force banks to make loans they would not make as a matter of good business.

 

[JayHawk]

Free enterprise works, Socialism does not. And, yes the more government control, the more socialistic it is. The meltdown was largely the result of regulation, not the lack thereof. Laws required the banks to make loans to poor people who would have difficult paying, as a condition to making other good loans. The entire purpose of the Democrat laws were to force banks to make loans they would not make as a matter of good business.

The law did not require people like Goldman and BOA to package the shitty loans into derivatives and then resale them with a Triple A rating to unsuspecting investors worldwide because they had always trusted the rating system as applied by bankers to our investment products.

To blame the crisis on regulation is like blaming the fire on the wood instead of the heat.

The problem was they were inspecting and regulating the wrong things.


That all aside I did wonder how long the pious would stay working for the people prior to jumping back into the green pastures of corporate paychecks and campaign donations.

 

[White Eagle]

Thanks, you say it better than I.

 

[evanrick]

Free enterprise works, Socialism does not. And, yes the more government control, the more socialistic it is. The meltdown was largely the result of regulation, not the lack thereof. Laws required the banks to make loans to poor people who would have difficult paying, as a condition to making other good loans. The entire purpose of the Democrat laws were to force banks to make loans they would not make as a matter of good business.

Ok..and what did government do to force the dot-com bust?

Im sure you have some kind of socialist conspiracy theory behind that as well?

 

[Kulindahr]

Maybe it's just time to shoot Congress and get new ones. Or raise lobbyist fees so they're paying $500/hr for the privilege of trying to corrupt the government.

Or just pass that amendment making it so ony real people have political rights.