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Varchild2008 (83.82)

The Manufactured Recession: Democrats Gleeful



September 17, 2008 – Comments (7) | RELATED TICKERS: LEH , WAMUQ.DL , PHU

Republicans are to blame for removing the uptick rule, but the Democrats didn't exactly change that did they?

The Democrats have had control over Congress since the last election.  They have not fought to remove the uptick rule.  Why?

Simple.   They were "gleeful" in seeing financial banking stocks and housing stocks and all sorts of stocks.. name it...basically getting vandalized by naked short selling.

So.. in order to "Manufacture" a recession you let the stock market go unregulated.  You can argue that it's "Bush's Fault" and sure he does deserve blame for not cracking some heads at the SEC and for being ignorant about the Lending/Housing situation.

But.. Let's not forget.. If it took an act of Congress to remove the Uptick rule then it takes an act of Congress to put it back.   Or the SEC has to simply enforce Naked Short Selling and they are not.

How many Banks would have survived had the SEC done their jobs and the Democrats done theirs?

Is winning elections more important than the dwindling middle class getting crushed under the weight of mistakes committed by the FEDs?

If the DEMOCRATS want to win an election season this year then why aren't they doing things to BETTER our lives?  Why no Offshore Oil Drilling or Renewable Energy policy?  Why not reinstate the Uptick rule?

Democrats simply obssess over their theory that if you trash America's economy and harm it's Middle Class, that the middle class voters won't know better and just assume "It's Bush's Fault" and vote for Democrats to fix things.

Problem is that they have had ALL YEAR to fix things.

7 Comments – Post Your Own

#1) On September 17, 2008 at 10:30 AM, Varchild2008 (83.82) wrote:

Oops! I meant to say the Democrats have not brought back the uptick rule. Stupid typo.

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#2) On September 17, 2008 at 10:57 AM, LordZ wrote:

I'll say it again, these Dems will do whatever it takes to finally win the presidential election.

Nobama presidency will suck.


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#3) On September 17, 2008 at 11:20 AM, goldminingXpert (28.79) wrote:

This blog post is dumb. Bush has been president this whole time. Your CAPS rating is so low... yet your IQ appears to be even lower.

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#4) On September 17, 2008 at 11:20 AM, goldminingXpert (28.79) wrote:

This blog post is dumb. Bush has been president this whole time. Your CAPS rating is so low... yet your IQ appears to be even lower.

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#5) On September 17, 2008 at 12:01 PM, devoish (72.31) wrote:

Democrats vs the Presidential veto and Republican Fillibuster

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#6) On September 17, 2008 at 3:13 PM, SemperGumby77 (71.21) wrote:

I'm with goldminingXpert on this one. This is one of the more ridiculous postings that I've read (and I've read some bad ones). In order :

1. You can't really believe that the current crisis was caused by the uptick rule, or that all of this has been "manufactured" do you really? Please tell me that you're smarter than this.....

2. Democrats currently have a 51% majority in Congress. That's not an overwhelming majority that will allow you to simply impose your will as a party.

3. Democrats have only had this majority since 2006. The problems of this current credit crisis occurred as a result of the lack of lending regulation that occurred before this period.

4. There is an Offshore drilling policy that just passed the house. Pick up a newspaper.

4. For your own good, as well as for the good of the rest of the voting public, please remove yourself from the conservative email chains that push this ridiculousness.

Though I won't be voting for McCain in this upcoming election, one thing that I do truly respect about him is that (for the most part), he understands where the train went off the tracks during the last 8 years, and has been openly apologetic about it, even during his own GOP speech.

This is an example you'd be wise to adopt, because to take any other approach is just an embarassment to the party you're spreading misinformation to support.

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#7) On September 17, 2008 at 4:54 PM, Varchild2008 (83.82) wrote:

Sorry but the facts speak for themselves.

The Uptick rule was the last straw in the whole mess that massively accelerated the decline in the financials.  And this isn't just about an uptick rule.  It's about the Democrats not doing their jobs.

You can claim "filibuster" and "veto" and all of that.  But that is pure meaningless jargon and excuse making.

The facts are the facts.  Democrats... Not 1 Senator or member of the House on the Democrat side ever spoke up to support regulation and fixing of the problems.

John McCain posed a bill in 2005 to reform Fannie and Freddie and that bill was co-sponsored with another Republican I believe.

That bill got blocked by the Democrats and never saw the light of day.  Fannie and Freddie just so happen to be buddies of the Clintonistas and big time donors to Chris Dodd and Barack Obama.

And it all goes further than that to 1994 when the Democrats supported mandating  that mortgage lenders give loans to minorities regardless if they can afford them through a piece of legislation they passed.

There's no ridiculousness about any of my comments here. None.  The Uptick rule plays a role and when the Democrats could have brought that rule back... They instead did nothing for 2+ years.

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