Republican politicians have been selling the lies of trickle down economics and deregulation on behalf of their Big Money and Wall Street masters for decades.
Now the very people at the heart of the financial market collapse of 10 years ago – people like Scott J. Freidheim – are trying to explain how it could have been avoided by making their lives easier.
Anyone paying even the slightest attention to economic reality since Reagan and certainly in the years leading up to the collapse of 2007/8 will know better.
Everything old is new again
As someone who just made it under the wire of Baby Boomer, I’ve watched for decades as low information conservative voters have been able to be counted on by generations of Republican politicians as people who are very easily duped into buying Republican lies.
These days I find myself asking whether Americans who think of themselves as Republicans and who vote for Republican politicians have either the will or the desire to ever actually understand how voting for a Republican at any level of government – from school board to town mayor to president – is truly a vote for a Party with an ideology designed explicitly to hurt them, their progeny, and everyone else outside the One Percent?
Republican orthodoxy on full display
The answer seems to be that some Americans continue to be willingly duped by people like Scott J. Freidheim.
In “The Lehman Brothers Collapse, 10 Years Later,” full-blown One Percenter and former senior Lehman executive, Scott Freidheim, is peddling the right-wing lie that says everything is the government’s fault if the government doesn’t do what Big Money wants.
In other words, pure Republican orthodoxy.
Mr. Freidheim has the temerity to claim that Lehman’s collapse was the government’s fault for not allowing Lehman to reorganize in ways that would have given them better federal protections.
Think about that as you then consider this.
In what I suspect was an unintended and fleeting moment of honesty, he admits in the interview that his industry didn’t “take it far enough” in evaluating the risks they had created for themselves and for the world economy.
So, which is it?
Too much regulation or too little?
By his own admission, Wall Street paid too little attention to risk. Why? Was it because they expected to be bailed out, thereby continuing to socialize all the risk while privatizing all the gains?
And, when the help didn’t come to him and Lehman Brothers?
Freidheim wants us to agree with him and blame Lehman’s collapse on the federal government.
Seriously, and on behalf of all Americans outside the 1/10th of 1% where you live, Mr. Freidheim, fuck you and all of your fellow Wall Streeters.
You all belong in jail.
Republican voters; stop ignoring reality
Voters across the spectrum who are outside the One Percent – but especially Republican voters – need to stop and understand what Freidheim and people like him are saying.
You Republican voters more than anyone need to understand what Republicans, bankers, ALEC, and all the Big Money power brokers are doing to this country because YOU’RE THE ONES VOTING FOR politicians who want LESS regulation of greedy, power-hungry, and soulless people like Dick Fuld, James “Jimmy” Cayne, Jamie Dimon, and now lesser-known cretins like Scott Freidheim.
You Republican voters more than anyone need to understand why Freidheim and his ilk want LESS REGULATION. Less regulation means they have more opportunities to take unwarranted risks knowing that they will keep all of their gains and that we’ll have to bail them out on their losses as the only way to “save the financial services industry” when next their greed and stupidity causes the next collapse thanks to people like Freidheim and his kind.
And most of all, you Republican voters more than anyone need to understand that you are not at all even a part of the concern of Republican politicians.
And, that absolutely includes the current leader of what is now the cult that is the Trumpublican Party.
Trump is not a Republican, neither are you, and none of them give a shit about you
Here’s a prime example of how Republicans hurt everyone.
Thanks to you Republican voters, The Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155) was signed into law by Trump. It de-fangs what was already not a strong enough post-collapse attempt to rein in the banks, Dodd-Frank.
As someone duped into believing you’re a Republican, you apparently bought the lie that undoing Dodd-Frank was a good move.
You were wrong. Again.
You Americans who think you’re a Republican were wrong in the 2016 election for believing you were voting for someone in Trump who was going to work for you and not the bankers. Honestly, you Republican voters should be ashamed of yourselves for being so gullible.
Not to worry, though.
November 2018 is your next chance to prove you aren’t the useful idiots of Republican politicians and Wall Streeters you act like by voting for them. All you have to do is to stop being your own worst enemy, and stop voting for the Party who has fucked you over your whole life.
Lefties, you’re responsible, too.
As for you self-proclaimed liberals and progressives who can’t seem to hate enough on the so-called “corporate” and “Wall Street” Democratic Party; here’s my advice to you.
Grow the fuck up.
You need to stop acting like some perverse combination of spoiled brat, self-righteous egomaniac, and puritanical zealot, and understand the difference between imperfect allies and actual enemies.
Yes, Democrats are imperfect. So are you.
Yes, some purple state Democrats in the House and Senate “disappointed” you again by voting for S.2155.
But understand this:
One, just ONE House Republican, voted against the bill.
Not a single Republican Senator cast a No vote. Not. One.
So, to my fellow social democrats, liberals, progressives, and everyone else on the left who is self-righteously banging your fists or holding your breath or acting like whatever spoiled and privileged lefty that you want to be, stop that shit right now.
Pull your heads out of your asses, and support any and every Democrat on every ballot.
Most of all, act like an informed and intelligent citizen, and vote in November for whomever has the ‘D’ next to their name…….unless, of course, you’re happy helping Republicans to keep control of local, state, and federal government.
No, Democrats aren’t perfect, but this is where you need to grow up. What they aren’t are Republicans.
If that’s not enough for you……I’m tempted to suggest an impossible solo sex act, but instead, know this.
You are looked at now and you will be considered by history when it’s written as just as much the source of our social, political, and economic problems as the duped 99-percenters who are voting for Republicans because you refuse to do what is required to end Republican rule.