Monday, April 19, 2010

Republicans Complain Democrats are Traitors for taking Goldman Sachs Campaign Contributions, then Filing Fraud Charges? Are you Kidding?

Imagine my double take when I read this headline: "Republicans Question Timing, Target of SEC Case Against Goldman."

Beyond surreal, Republicans appear to be doing the impossible, accusing the Democrats of not doing Goldman's bidding after receiving huge campaign contributions. No really!

The Obama administration is biting the hand that fed it for political gain, Republicans say, accusing the White House of going after Goldman Sachs and then using the fraud charges filed against the Wall Street heavyweight to build the case for financial regulatory overhaul. Goldman Sachs was President Obama's top Wall Street contributor during the 2008 campaign, with employees donating nearly $1 million, according to the Center for Responsive Politics.
Considering the source of this story, Fox News, I guess I shouldn't be to surprised at its down the rabbit hole logic. They must be messin' with our heads on purpose:

"Just whose side is President Obama on?" House Republican Leader John Boehner said in a statement drawing attention to the donations and questioning the announcement from the Securities and Exchange Commission that it's going after the banking behemoth.
You can't make this stuff up. There's more head scratching ponderings by Republicans who can't figure out why Democrats don't give in to Goldman's electoral payoff:

Rep. Darrell Issa, R-Calif., ranking Republican on the House Oversight and Government Reform Committee, accused the administration of using "theatrics and tactics." "It must be nice for the Democrats that the SEC's filing against Goldman Sachs so conveniently fits into their political agenda," Issa said in a written statement.
So the government shouldn't go after Goldman Sachs?

The SEC is accusing Goldman Sachs of defrauding investors by failing to inform them that certain mortgage investments were devised with help from someone who was betting on their failure. "We want banks to be banks, we don't want them to be casinos. And I'm glad the SEC is doing their job," Sen. Scott Brown, R-Mass., said on CBS' "Face the Nation" Sunday. "And they should bring those charges because it's wrong and we should do something about it."
It should be noted that Scott Brown opposes reform. Another words, deregulate Wall Street and let them fail with no public bailouts, that'll teach them. Of course if any huge bank fails, they'll take down every other one around them, globally as well, ushering in a 2nd great depression.

And that, my friends, is the GOP solution based on free market principles and no new regulation.

No comments:

Post a Comment