David (you and me) against Goliath (banks)

We've got a problem, Houston!

Hell, we've had a problem for a long time. Since the "glory" days of Reagan, anyway, when government "deregulation" became the "solution" to whatever ailed us. Government, saith the Alzheimeric sleepyhead, was the problem and not the solution, so take away all the rules and everything will be wonderful and ...

Well, it didn't work out that way. Reagan was wrong! The Bushes were wrong! Which, philosophically, is an interesting factoid. Conservatives are supposed to be about rules and regulations, keeping the status quo, not going off the deep end, "preserving" our values, etc., etc.

Doesn't work that way, though. Conservatives are basically amoral. They will do anything to bring in more money and gain the power. Deregulation was a code word (and is a code word) for screw the poor, feed the rich.


Our country is in a depression (yes, it's a depression!) because of deregulation; because the powers-that-be decided to allow banks and other financial institutions to basically do whatever the hell they wanted to do without government interference!

(We could also talk about the horrendous impact of Reagan's deregulation of the airline industry, but that's another story.)


Now some folks, namely the Obama administration, would like to do something about the problem of deregulation; would like to ensure that this monstrous financial mess that has impacted every country in the world, never happens again.

So, Obama and friends want Congress to put together a brand-new Consumer Financial Protection Agency "to regulate consumer financial products ranging from credit cards to mortgages, and to simply disclosure about them all."

Oh boy! Talk about the rats coming out of the woodwork! McClatchy says the opposition has formed and is fighting back:

"...the U.S. Chamber of Commerce is leading the fight against the proposed agency on grounds that it would make credit less available and more costly. The American Bankers Association, the Independent Community Bankers of America, and the Financial Services Roundtable also oppose the measure."

Of course they do. And if they can convince the folks on Main Street that they are really, truly concerned about their financial well-being and the financial well-being of the country, they can defeat this proposal.

Amazing how brazen they are. They're responsible for the mess and now fight tooth-and-nail any attempt to fix it!

In fact, the Chamber of Commerce is "spending about $2 million on ads, educational efforts [read "propaganda efforts], and a grassroots campaign to kill the agency."

McClatchy notes that according to the Center for Responsive Politics, for the 2010 election cycle "commercial banks have donated almost $3.7 million to lawmakers -- 54 percent of it to Republicans. Companies that provide credit have given about $1.4 million, 59 percent to Democrats. Mortgage bankers and brokers have given $581,423."

Chamber of Commerce ads trot out the same old tired "scares" - we should make government better not bigger. Or, this agency could become a real "monster regulator."

So obvious.

Would you believe that "Some leading Republicans are siding with the banks"?


I think that we are going to have to deny all corporate money and other sundry gifts to any politician for any purpose. I think we're going to have to shut down the lobbying industry--completely and totally!

Unless we do those two things, we shall never, ever see much progress in this country.