Did Timothy Geithner, Rahm Emanuel and several ex- Goldman-Sachs CEOs now “czars” in the Obama administration switch to the Republican Party when we weren’t looking???
Morin is a lovely artist, and he is very good at finding a simple graphic representation of an idea. He is like Toles in the later (but of course his drawing style is very different). He and Toles differ in this regard from Asay, who primarily wants to tell stories. Sorry to take the discussion away from politics, but really isn’t art more important?
Let me se, av8tor… Bush put forth the bailout, and iirc support was, indeed, bipartisan. Since then the GOP has opposed stronger regulation, they (afaik) opposed higher taxes on the bankers… The ‘toon is based in reality, actually.
old1953, thanks for restating the facts. aNandy “666” and av8tor have Selective Memory Deficit Disorder.
Hank Paulsen put together the bailout program in Sept. 2008, before the election, for goodness sake. The plan was finalized and passed by Congress in Oct. 2008, also before the elections.
Too bad so many people choose to be willfully stupid.
Arsonists love to stand by and watch the result of their work. Gramm and a REPUBLICAN majority changed the law to allow banks free reign- far more effective than campaign contributions in a single campaign. They set the fire- and stood by in the disaster saying, “not me!”- right.
Independents - no such thing - they are the naysayers who always vote for the folks not in power. Either get your information straight , vote with reason and understanding and declare yourselves or get off the bus. That’s why no one can get anything done - the losing party can always count on the independents to swing back to them in the next election. People, take the time to get informed, look yourself in the mirror and see yourself as the problem, and get involved with one party or the other. then the winners can govern and the losers will work harder to find real solutions.
@ iamthelorax - yeah, fair enough. Quite a few dems are certainly keeping the reps in lining the other pocket (and the vest pocket, and the purse, and a whole lot of other… personal space) for mr. Big Money.
TARP - Troubled Asset Relief Program, was adopted and designed to purchase ‘toxic’ assets from financial institutions to unclog the World’s financial sector. The ‘toxic’ assets were the mortgage backed bonds (mostly AAA rated - why are the rating agents not in jail yet, is beyond me) and derivatives thereof,
Those were the product of the CRA and its amendments, and FHA club, the darlings of the Democrats.
The funds were however never used as intended. First, Paulson forced the top banks to accept some money as capital infusions, then, under 0bama, they used a pile of money to buy GM and Chrysler - for the unions.
The banks are expected to repay all of the funds - with interest, while GM and Chrysler, not so much.
That said, the big banks, just as most of the big Wall Street, big business and big labor, have been supporting the Democratic Party over the Republicans by a very wide margin - those are simple facts. They have made a Faustian bargain …
«Scottfreitas», I fear you miss the essential point - both the major US parties are in the hands of the great corporations and their lobbyists. Contributions go mainly to those who who are deemed most likely to win - which in the US usually means the incumbent - but bets are almost always hedged, just in case (that hedge funds were invented in the US is perhaps, no accident). If you really believe that your Republican friends are less on the take than the Democrats, than you haven’t been doing your homework. But perhaps you don’t enjoy homework ?…
kennethcwarren64 over 14 years ago
That’s the point in getting people angry – it makes them stupid.
willikiii over 14 years ago
Did Timothy Geithner, Rahm Emanuel and several ex- Goldman-Sachs CEOs now “czars” in the Obama administration switch to the Republican Party when we weren’t looking???
Wake up, Morin, and stop ODing on the Kool Ade.
lonecat over 14 years ago
Morin is a lovely artist, and he is very good at finding a simple graphic representation of an idea. He is like Toles in the later (but of course his drawing style is very different). He and Toles differ in this regard from Asay, who primarily wants to tell stories. Sorry to take the discussion away from politics, but really isn’t art more important?
4uk4ata over 14 years ago
Let me se, av8tor… Bush put forth the bailout, and iirc support was, indeed, bipartisan. Since then the GOP has opposed stronger regulation, they (afaik) opposed higher taxes on the bankers… The ‘toon is based in reality, actually.
iamthelorax over 14 years ago
All pants come with 2 back pockets, and guess which party’s in the other one?
cjr53 over 14 years ago
Thanks for the reminders Old1953 and 4uk4ata.
It seems the right wing nut-balls have forgotten how this really went down.
Those that forget history are bound to re-live it.
believecommonsense over 14 years ago
old1953, thanks for restating the facts. aNandy “666” and av8tor have Selective Memory Deficit Disorder.
Hank Paulsen put together the bailout program in Sept. 2008, before the election, for goodness sake. The plan was finalized and passed by Congress in Oct. 2008, also before the elections.
Too bad so many people choose to be willfully stupid.
Dtroutma over 14 years ago
Arsonists love to stand by and watch the result of their work. Gramm and a REPUBLICAN majority changed the law to allow banks free reign- far more effective than campaign contributions in a single campaign. They set the fire- and stood by in the disaster saying, “not me!”- right.
AgLaw over 14 years ago
Independents - no such thing - they are the naysayers who always vote for the folks not in power. Either get your information straight , vote with reason and understanding and declare yourselves or get off the bus. That’s why no one can get anything done - the losing party can always count on the independents to swing back to them in the next election. People, take the time to get informed, look yourself in the mirror and see yourself as the problem, and get involved with one party or the other. then the winners can govern and the losers will work harder to find real solutions.
4uk4ata over 14 years ago
@ iamthelorax - yeah, fair enough. Quite a few dems are certainly keeping the reps in lining the other pocket (and the vest pocket, and the purse, and a whole lot of other… personal space) for mr. Big Money.
petergrt over 14 years ago
TARP - Troubled Asset Relief Program, was adopted and designed to purchase ‘toxic’ assets from financial institutions to unclog the World’s financial sector. The ‘toxic’ assets were the mortgage backed bonds (mostly AAA rated - why are the rating agents not in jail yet, is beyond me) and derivatives thereof,
Those were the product of the CRA and its amendments, and FHA club, the darlings of the Democrats.
The funds were however never used as intended. First, Paulson forced the top banks to accept some money as capital infusions, then, under 0bama, they used a pile of money to buy GM and Chrysler - for the unions.
The banks are expected to repay all of the funds - with interest, while GM and Chrysler, not so much.
That said, the big banks, just as most of the big Wall Street, big business and big labor, have been supporting the Democratic Party over the Republicans by a very wide margin - those are simple facts. They have made a Faustian bargain …
d_legendary1 over 14 years ago
<============YEAH! You tell them Petersux! Republican good, Democrat Bad.
Even though I started the whole bail out mess.
believecommonsense over 14 years ago
^ Yeah, and don’t forget your Treasury Secretary got down on bended knee to plead with Pelosi to bring the Dems on board.
d_legendary1 over 14 years ago
<========^Worked out pretty well don’t ya think?
mhenriday about 14 years ago
«Scottfreitas», I fear you miss the essential point - both the major US parties are in the hands of the great corporations and their lobbyists. Contributions go mainly to those who who are deemed most likely to win - which in the US usually means the incumbent - but bets are almost always hedged, just in case (that hedge funds were invented in the US is perhaps, no accident). If you really believe that your Republican friends are less on the take than the Democrats, than you haven’t been doing your homework. But perhaps you don’t enjoy homework ?…
Henri