Analysis of President Obama's State of the Union Address
http://thedianerehmshow.org/shows/2012-01-25/analysis-president-obamas-state-union-address
Building an economy that’s built to last, reclaiming the American dream, and economic fairness: these were some of the main themes of President Obama’s State of the Union address. He spoke last night about the challenges this country faces and the teamwork he believes will be required to boost economic growth. Governor Mitch Daniels, who offered the Republican response, connected the slow growth of recent years to the President’s stewardship of a government that stifles private enterprise and fails to address staggering government debt: Join us for analysis on the speech and the presidential campaign ahead.
Guests
E.J. Dionne Jr.
senior fellow, The Brookings Institution, columnist, Washington Post and author of "Souled Out: Reclaiming Faith and Politics After the Religious Right" and of "Stand Up Fight Back."
James Thurber
professor and director of the Center for Congressional and Presidential Studies at American University; author of "Obama in Office: The First Two Years."
Byron York
chief political correspondent, Washington Examiner.
Comments
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Carebear,
You are mired and wallowing in Democratic this Republican that, try to understand that corporations own government and politicians do corporations bidding. Get the Money Out of Politics! should be your mantra.
I'll take the below comment more seriously once the circus is over and the GOP has wrangled a candidate ..
mftrute wrote:
"I realize this is an Obama rah rah party"
The broadcast part was kind of a rah rah, but it looks pretty clear people here were not very impressed by historical standards for this forum. I think the liberals know they have a real loser on their hands whether they want to admit it or not.
rrc1049 wrote:
"The economic crisis was caused by the Banks and Wall Street investing and gambling with exotic financial instruments, CDO's, CDS etc."
rrc, a little reality. Both are true. Homeowners DID buy more home than they could afford - goaded on by mortgage originators and banks who KNEW the risky loans they made could be bundled and passed off. That still doesn't mean the homeowner isn't responsible for buying a half-million dollar home with 50K in income. The loans only became "bad" when prices plummeted, the building trade ground to a hault, layoffs began to happen, and the 50K guy couldn't make his payments If the 50K guy had bought a 100K or 150K home instead of 1/2 mil, he'd probably still be in it.
Plenty of blame to go around.
As I have posted here before, I think a lot of fault for the mortgage meltdown lies in repealing of Glass-Steagall which freed up capital to put into CDS. This, coupled with things like CRA and "encouragements" to banks to lend universally created the perfect storm.
But that's all in the past, IMHO. It's solutions we need. The first is to reinstate Glass-Steagall. The second is to require banks to service their own loans. The third is to extinguish F&F and sell their loans to the highest bidder. Until the housing market becomes a true market once again, with real risks and consequences, we will continue to feel pain.
I disagree with johnandre on most of the things he spits out, BUT on this comment:
"... I think a lot of fault for the mortgage meltdown lies in repealing of Glass-Steagall which freed up capital to put into CDS. This, coupled with things like CRA and "encouragements" to banks to lend universally created the perfect storm.
But that's all in the past, IMHO. It's solutions we need. The first is to reinstate Glass-Steagall. The second is to require banks to service their own loans...."
That is something I can get on board with. I don't know enough about Fannie and Freddie to say they should be totally "extinguished," but reinstating G-S? Absolutely. Hear. Hear.
johnandere, I thought TB's response so ridiculous on Koch bros. spending as to not even bother. I will pursue him on it, can't let that pass considering the Koch bros. are on the tip of every liberal tongue here. Thanks
There was a caller who was absolutely insane talking about the NYT headling "Where everyone gets a fair shot" with Gabby Giffords in the chamber. Not only is the quote of the vernacular, but from listening to "Fresh Air" yesterday, I learned that Ms. Giffords actually owns a Glock-19. I don't think Gabby was particularly offended by the gun metaphor. Moreover, this metaphor could easily apply to archery, atlatls, or blow guns.
urbanrage wrote:
"Wondering why Obama just doesn't let benjamin netanyahu present the state of the union speech.....yep, I said it."
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You must be a Ron Paul and, or, Pat Buchanan disciple.
The Bush admin did try to rectify the problem. Dems Chris Dodd, Barney Frank and others testified in hearings that Fannie Mae etc were financially sound. Also the deems took over congress.in 07 so by the time Bush dealt with Sept 11 and keeping our country safe it was too late. Once legislation is takes years to reverse it. The point is that we are all be lied to about the mess we are in So no excuses accepted. Also, many of Obamas top people either come from Fannie Mae, Mac or wall street. That is a fact.
RRc I also agree with this sentiment. Not enough time or energy in a day to express my opinions.
Also RRc. I was responding in the context of the Presidents speecsh and comment about the private sectors prominence in the new healthcare law.
RRc you forgot to mention that the Govt and groups such as ACORN pressured the banks to make the loans. The Govt told the banks that if they originated the loans then Government Sponsored Entities such as Fannie Mae and Mac would buy the loans. Why do you think it is that the taxpayer has bailed out those 2 for the last 4 years with hundreds of billions?