What sheer nonsense! Isn’t it time that the politicos and the media stop with the labels already?
It seems, that if a measure passes which calls for either more spending or increases the size of government, it is automatically labeled liberal. On the other hand, if a measure is voted down and either the size of government is not increased or less is spent, that is conservative.
Such single-minded thought, such ideological ” black or white” talk, is blinding to good, solid reasoning . Ignored is the issue itself. What if it makes sense? What if it is worthwhile? Let’s be frank. Generally we do not like regulation; it places constraints on us. The police, for example, also place constraints upon us, but we, nonetheless, recognize the value of their regulations.
The recent recession, which began in 2006 — 2007, is of special importance on this subject. The Bush administration, which favored less government involvement, and more dependence on the capital markets to police themselves, ended up making it easy for greedy, nefarious bad guys to step in. They stepped in big-time. They loaned out billions of improperly collateralized, and often phony, loans and then sold the loans, raising billions for which they received high fees. This, as you know, plunged the country into the greatest recession our country has experienced since the Depression, which began in 1929 and triggered off numerous bank failures, overnight job terminations by the gobs, and on and on
Then, as a complete turnaround, it was during the waning days of the very same Bush administration, that Henry Paulson, Secretary of the Treasury proposed bail-out loans to the banks that were “too big to fail,” notwithstanding the fact, that many of them were being run by the very same bad guys, that got us there in the first place. There was no alternative. Rather than allow for bank runs with people standing in lines to draw their money out, massive unemployment, and many bank failures as during the great Depression.
Relief at last:
Not on your life! The government has gone after them big-time. Here’s a breakdown:
Many of the banks and investment houses have entered into settlements with the government in the millions and sometimes in the billions;
Some executive officers of investment houses, such as Madoff and Sanford, have been prosecuted and they are presently residing in a cage;
The Federal government has imposed new regulations upon the banks and tighter safety controls. In particular, the capitalization levels have been increased.
Tougher scrutiny of the banks and other financial organizations have been established; Insider-trading cases are presently ongoing, and lately, the government is examining those executives, who have traded in their own stock based upon their insider knowledge, and made excessive profits.
Conclusion:
If a person is positively inclined toward establishing climate control, gun regulation, on various immigration issues, poverty issues, or building new bridges and roads, it does not mean that person is either a liberal or a conservative. It’s all a matter of “degree.” Each issue has to be carefully analyzed on its merits to hopefully reach a reasonable conclusion. Labels are just plain inappropriate.
-JS
Blogs by Jerry Sonenblick 