Economic Crises: Sen. Clinton Nails it

by Deb Cupples |   This is Sen. Hillary Clinton at her wonky best.  She doesn’t just place partial blame for our economic disasters on the Bush Administration’s anti-accountability policies (which proponents misleadingly call “Free Market” principles).

Hillary also explains – in detail – some of the things that led our economy and markets toward the proverbial toilet.  In addition, she talks about solutions, including greater corporate accountability in general and greater transparency of those firms that are being bailed out with our tax dollars.  I’m so glad someone is saying it. 

The video is about 23 minutes, but even the first five minutes are informative. (Thanks to Talkleft for posting the video.)

Comments

[Tone]

New respect for Mrs. Clinton.
Listen to the whole thing, the wrap up is excellent.
Funny how the sub-prime loans were touted as Assets when they were sold and resold. On the portfolio as assets for so long, inflating the value of our largest institutions.
For years there were people saying Danger! It is just recently that the media joins in admitting 'the Emperor has no clothes!'
and people are panicking.
I love her comparison of homeowner help that the Administration refused, and
Institutional assistance that the Administration feels is required!
The amount of assistance to the Institutions, now being sold as our only hope, includes the every bit of what would have been needed to help individuals, PLUS all the profit that has been taken in the re-selling of those debts, and add the salaries of each institution's management. Missed our opportunity to pay Peter, and now Paul(son) is muuuuch more expensive!
Ought to laugh, but it makes me want to cry.

[Tone]

Senator makes excellent point in requiring that the applicants for loan from the new program/office set up to assist those institutions. Let me expand on her requirement that applying institutions open the books. In the case of a family applying for welfare, the finances of the entire family, including the (occasionally) absent father, are called to light. All assets and income are used to offset the assistance grant.
For consistent application of prinicples, all compensation and assets of present AND recently terminated officers should be on the block, included with the liabilities that taxpayers are being asked to cover. What do you think?

[Deb Cupples (Buck Naked Politics)]

Hi tone,

I DID listen to the whole thing. I agree that the wrap up is great.

I didn't know that about human welfare programs, but it's a good point!

Me, I favor total disgorging of all dollars that executives (past and present) made from the irresponsible or fraudulent decisions.

[Rowland Carver]

Is the BUSH trying to bankrupt this nation? What does he plan to do next next? Why don't the people who made these loans be responsible for them? Perhaps lower the rates or amounts until buyers can afford to pay something?

[Rowland Carver]

Is the BUSH trying to bankrupt this nation? What does he plan to do next next? Why don't the people who made these loans be responsible for them? Perhaps lower the rates or amounts until buyers can afford to pay something?

[Rowland Carver]

Is the BUSH trying to bankrupt this nation? What does he plan to do next next? Why don't the people who made these loans be responsible for them? Perhaps lower the rates or amounts until buyers can afford to pay something?

[Deb Cupples (Buck Naked Politics)]

Rowland,

you bring up some very valid points!