Reagan Revolution Out Of Style, Regulation In Even With Republicans

WASHINGTON -- The housing and financial crisis convulsing the U.S. is powering a new wave of government regulation of business and the economy.

Federal and state governments alike are increasingly hands-on in their effort to deal with failing businesses, plunging house prices, worthless mortgages and soaring energy prices. The steps add up to a major challenge to the movement toward deregulation that has defined American governance for much of the past quarter-century since the "Reagan Revolution" of the early 1980s. In fact, some proponents today of a bigger oversight role for government are Republican heirs to the legacy of President Reagan.

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Comments

[ArnicaMontana]

deregulation was the dumbest thing. Look at the wake it has left behind.

[bythePeopleforthePeople]

If you work for a living, be it salary or hourly wage, and you vote Republican, you have absolutely no idea of what is going on in this country. Deregulation of all the cash cow industrys has ruined this country. This is class warfare. How about we drop all federal taxes on overtime wages. Since most companies have cut their work force to the bone and are forcing overtime.

[swift_goat_pet_for_truth]

It is definitely worth giving all our money to the uber-rich so they can protect us from third world nations with no military power and weapons they don't have.

[fiberoptimist]

"The oppressed are allowed once every few years to decide which particular representatives of the oppressing class are to represent and repress them."

Karl Marx

[FarOutFish]

Gee a quote from a discredited psudo-ecconomist. As William F. Buckley said, the only Communists, read Marxist, can be found in American universities.

[dadw5boys]

Reading Marx is only reading political theory!!!!

It matters not the "ISM" or the "IST".

Commuinism, Capitalism, Socialism, or Facism all seek to control the minds of the public.

Communist, Capitalist, Socialist, and Facist all seek to control the Government!

Power over the people is what it is all about. A mix of Socialism and Capialist theory is the best but the Capitalist must never be in total conrtol for Facism hands their hand to tightly.

[neocon666]

The William F. Buckley who defended Senator McCarthy?
"fiberoptimist" may have a point.

[MACS]

.
OBVIOUSLY the effects of "TRICKLE DOWN ECONOMICS."

[dadw5boys]

One day I hope to trickle down on Regeans grave and kills the grass!

[motu]

otherwise known as 'piss on the poor economics'.

[neocon666]

Or "drink the rich people's delicious piss" if you're a republican.

[leftLibertarian]

As long as there is a government entity, the idea of a 'free market' is a myth.

[Cathexis]

WHA?!?

Tell me you're not serious.

To operate effectively, baseline regulation (i.e., Government) is necessary. This provides a baseline credibility among consumers that they will be operating with legitimate, ethical businessmen and not "taken for a ride" by predatory deceivers.

A completely "free market" would be unworkable, as no one could trust anyone else and every transaction would be a crapshoot -- worse, legitimate Business would be at a disadvantage by trying to act responsibly rather than screw the consumer.

Adam Smith's "Free market" was based on sane regulation -- and that is impossible without sane government.

[motu]

as long as we all live in a society we'll need a government entity.

[Stokes]

(Posted in Huff-Post July 18, 2007 written March 18, 1995)
The Wall Street moguls will have their reign for a time, but fear not, for they have satiated their greedy appetites far into the realm of human suffering. So like the leaders of Naziism and Fascism, they too, shall be destroyed. Prayer ppetitions to the Almighty Heavenly Father is the only weapon which will destroy this evil which is transversing across the Globe.
( written April 4, 1986)
The president has beset this country with a plague of exasperating, useless spending. None of which the monies robbed from the working man can make peace or force peace. For there can be no peace in the world. Only the inner peace within each of God's creatures who have invited the Peace of God to flow into them through Jesus Christ, the Word.

[GrainOSand]

Repeal the union busting trend while you are at it congress; that seems to be another Reagan misadventure that is ripe for change.

An economist and an engineer found themselves stranded on a remote island. The engineer suggested a collaborative effort in drawing up plans and gathering materials to make a seaworthy vessel that could deliver the two people from their peril along with a well thought out navigation scheme for finding the way home. The engineer started to get angry after a few minutes of discussion because the economist seemed to be missing the gravity of the situation of being stranded. The economist was not paying attention to the conversation of calculation and planning the engineer was attempting to conduct. He seemed distracted and smug while the engineer precisely described the situation and detailed the plausible options for resolution. Finally, in exasperation the engineer screamed at the economist. She charged that the economist was not paying attention and was not taking the situation seriously. She stated that soon night would come and they would not have begun to build a vessel.

The economist looked at the engineer with pity, then smiled and said, you are overreacting for our situation is easily remedied. We will get off this island. All we have to do is assume we have a boat.

The above is for all advocates of the self-healing market. It is kind of like the self-managing system or network, often touted, seldom if ever realized.

[Meggie]

well, there's only pocket change left. time to regulate again so we can build up to be robbed again. it's such a game.

[RJII]

a game for the rich and greedy. us little folk are mere pawns.

[darthdarcy]

The reptilian Republicans blocked the vote that would have addressed the manipulation of the out of control Futures Market and the criminal speculators destroying the American economy yesterday, they are still all for this huge swindle destroying America and it's economy...they are clearly the enemy of the people...

[coyote4]

Remember to turn out and vote

[nikto]

1st order of Business for America:

BRING BACK THE GLASS-STEAGALL ACT!
(or something like it)

[booker52]

We have all seen how badly this lack of regulation has worked out. The GOP is still blocking the vote to regulate the speculators. Enough you fools!! Your comments that it's still a case of supple and demand just doesn't wash. People here in America have cut back, so that argument doen't work. The oil supply is just fine. It's the speculators, read my lips!!!!

[FarOutFish]

Speculation is good. Had the Pilgrims not speculated on a new life in North America they would still be persecuted. Had the founding fathers not speculated on the concept of democracy we would still life under the British flag. Had business not speculated on all the products we have today we would live a bleak life. Had Doctor Jonas Salk not speculated on a vaccine to prevent polio millions would still live in iron lungs.

Speculation has its hazards. You pay your money and you take your chances. Oil speculation has formed a bubble. It will burst and all those "greedy" speculations will loose their tucus.

[neocon666]

Yes, and whatever you do, don't mention the "Enron loophole" that was the result of Bush and Cheney allowing Enron to actually write America's energy policy, which resulted in the speculation that's given us $4 a gallon gas. But then again, we're talking about a constituency that actually believes that you can fund a government with tax cuts, and the military's budget doesn't really count because it's "magic money".

[FarOutFish]

The Enron scam started during the Clinton administration, it crashed during the Bush Presidency.

[marijam]

How conveniently they forget that increasing supply increases demand.

[swift_goat_pet_for_truth]

Certainly true.

Look how the inventory of houses, at a record 11.1 months, dropped (along with the price by some 10 to 15%) to a mere 10.5 months.

[Javani]

Bailing out the super-rich after speculative bubbles assisted by lack of regulation or enforcement is nothing new. And to blame Reagan is yet again to sidestep recognition that the Democratic party is the main culprit, i.e., repeal of Glass-Steagal. Republicans specialize in deregulation that increases pollution and worker exploitation. Democrats, now the party of finance capital, specialize in acts to facilitate upscale, financial markets manipulation and speculation.

[neocon666]

PULL-EEZE!
Three republican presidents -Reagan, Bush 41, and Bush 43 -are responsible for 70 PERCENT of all of the debt the United States of America has incured since its inception.

I honestly believe that you can sell a republican a bottle of seawater while they're swimming in the ocean, they're so damn gullible, which is why I always say "If ignorance isn't strength, why are there republicans?".

[neocon666]

Looks to me like the democrats are just trying to clean up yet another mess that the republicans have made.

[marijam]

I'm not so sure this can be laid at the feet of Bill Clinton. Would the Congress at the time have been able to override a presidential veto? If they could have, then its a moot point about who did it and the ball is back in the Republican's court for having brought it up in the first place, ala Phil Gramm. He of the 20th century robber baron economics theory.

[outnow]

Reagan was literally from central casting. He was the cowboy who was going to save us from ourselves basically. He admitted that he didn't understand Reaganomics since it was all political nonsense to enrich the wealthy and make America into a banana republic. The great wealth was supposed to trickle down so that social safety nets would not be necessary. The wealth was destroyed, not created. People never learn. That's why they appointed Bush 43. A guy with a C- grades. Now they want McCain who finished in the bottom one-percent. These are not leaders. These are front men for big oil and Corporate America - which the rest of us are not really part of. But the voters don't "get it." The wedge issues divide us.

[levi501]

Economics is a science. The more government gets involved the more it will destroy efficient markets. Government will pursue markets that try to make things "fair" but in reality take God given freedoms from you and me.