Blame the correct culprits

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The protests in New York City, becoming increasingly riotous, are an embarrassment to this once-great nation whose capitalism enabled all of the freedoms and wherewithal of the very participants who now decry it.

These young people are the product of our government-orchestrated education system and our institutes of higher learning, both of which have been corrupted by Marxist and socialist doctrines. And now, big labor unions and Democratic politicians such as House Minority Leader Nancy Pelosi, et al., sensing a crisis that can’t be allowed to go to waste, have voiced their support for the mindless masses who, when questioned by reporters, are unable to explain what it is they are protesting, other than simply “Wall Street and rich people.”

It is not surprising that Americans are tiring of the ravages of continued high unemployment and a struggling economy, but venting their frustration at the financial institutions as the culprits is misdirected. The banks were just the instruments of execution in this fiasco.

Government policies promoting home ownership to unqualified buyers and backing the longtime freewheeling mortgage activities of Fannie Mae and Freddie Mac were the real source of the housing industry collapse. The ensuing foreclosures coupled with the European, as well as our own, debt crisis; bank credit tightening; and more government regulation and threatened tax increases have effectively choked off economic activity.

Throwing billions more government dollars at the problem simply is a repeat of past stimulus failures, creating only temporary government jobs instead of long-term, private-sector incentives such as tax and regulatory relief, which are the real engines of economic gains.

The power of political and media misinformation campaigns appealing to middle-class misfortunes are an awesome force, as evidenced by the number of misguided souls behind the “Down with Wall Street” signs in New York City, and the half of the electorate that believes that the politicians and the unions are in it for “them.”

Terrence Bedell

Appling

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Craig Spinks
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Craig Spinks 10/12/11 - 02:17 am
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Sir, "(J)ust the instruments

Sir,

"(J)ust the instruments of execution," eh? Greedy bankers were in this financial fiasco up to their lying mouths. Their paying for their lies is a prime contributor to our current economic malaise. Simply put, the devaluing of their previously inflated real estate and real estate-based assets erode the unencumbered capital available for loans to businesses large and small. After the excesses of the real estate and related financial bubbles, any prudent financial discipline imposed by the FDIC, the FRS and other bank regulators should be expected to appear draconian to the fast- and easy-money crowds in the American banking industry.

Essentially and unfortunately, many innocent parties are suffering the consequences of these fools' excesses. Maybe "clawback" and "incarceration" will provide the American body politic some sense of Justice.

Techfan
6461
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Techfan 10/12/11 - 06:05 am
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The religious nuts in this

The religious nuts in this country have done more to try to corrupt the system and codify their particular theologies than the reverse. Have you seen any forcible closing of churches? No. Have you seen religious groups try to deprive those who believe differently of their rights? Yes. You talk about power, read up on the Dominionist and Seven Mountains movements, then come back and tell us who seeks to control all of our society.

yakirz
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yakirz 10/12/11 - 07:49 am
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I have no use for capitalism.
Unpublished

I have no use for capitalism. Capitalism is why one person in the back of a limo drives by someone who can't afford breakfast. I don't care about how much someone works, that's their choice, but no one is better than anyone else. No one deserves 250x the resources of another because of their invented title in a fictional "economy."

People first, not money (which doesn't even exist).

Jon Lester
2440
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Jon Lester 10/12/11 - 07:53 am
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My relatively small bank has

My relatively small bank has not introduced any new fees this month, and I would encourage every disgruntled mega-bank customer to move their accounts immediately to either a smaller banking company or a credit union.

While the administration is by no means blameless in the current situation, it's not because the people advising the president are "socialist" (would that they were) but because they're from the same Wall Street establishment that brought us here to begin with.

Little Lamb
48011
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Little Lamb 10/12/11 - 07:58 am
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Yakirz wrote, “Capitalism is

Yakirz wrote, “Capitalism is why one person in the back of a limo drives by someone who can't afford breakfast.”

Yeah, but it's the President of the United States in the back of the limo!

Vito45
-2
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Vito45 10/12/11 - 08:45 am
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yakirz needs to move to Cuba

yakirz needs to move to Cuba or Russia then. Their form of government and economy are more suited to his views.

dichotomy
36302
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dichotomy 10/12/11 - 09:46 am
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Without those people in the

Without those people in the limos there is no tax money for welfare checks,EBT cards, and Section 8. They pay most of the taxes. If you tear down Wall St., the "poor" people will become the starving people because they still will not work to support themselves. Y'all keep picking on those rich people. Regulate them and threaten them with tax increases like Obama and the Democrats have been doing for the last 3 years. How is that working out for you? They took their money off of the table and are refusing to play with you. I don't blame them.

To the commenter who said "Greedy bankers were in this financial fiasco up to their lying mouths". Of course they were. The government forced them into making bad mortgage loans and the bankers reacted by coming up with a trading scheme to move some of that known "bad" debt off of their books. You can be mad at the bankers if you wish but I am mad at the government for putting the banks in that position in the first place. Blaming the banks and what they did instead of the government policy that caused the problem in the first place is a simple minded approach. The disease was government policy and the banks' reaction was a symptom. You can't blame the plumber if you drop a brick into the toilet and then fill it up with..........oh well, you get the picture.

Brad Owens
4859
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Brad Owens 10/12/11 - 09:51 am
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Lost me when he used the

Lost me when he used the term, "Marxist and socialist doctrines" because he obviously doesn't know what Marx taught..

Letters like this are boring.

Chillen
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Chillen 10/12/11 - 11:16 am
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The government is to blame.

The government is to blame. Along with the sheeple who elected them. Fix our government and you fix America.

We are rapidly entering the worst worldwide financial crisis since the great depression. I don't even know if it can be avoided at this point, but I do know one thing. Financial & societal collapse is absolutely inevitable if we keep the current administration and many of the Congressional clowns in office in 2012. They want it to happen.

We MUST unite and vote for real change folks. You might not like someone's stance on the environment, religion or gay marriage but you MUST find candidates who will end the madness in Washington and vote for them.

I repeat myself. If you want America to survive you must find candidates who will FIX AMERICA. Leave your petty, single focus issues at the doorstep for the next few elections.

Bizkit
34422
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Bizkit 10/12/11 - 11:21 am
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In The Communist Manifesto,

In The Communist Manifesto, Karl Marx argued that a class is formed when its members achieve class consciousness and solidarity. This largely happens when the members of a class become aware of their exploitation and the conflict with another class. A class will then realize their shared interests and a common identity. According to Marx, a class will then take action against those that are exploiting the lower classes.
So Obama and Dems encouraging "this class that has become aware of their exploitation" isn't encouraging class warfare and a Marxist strategy?
Further when Obama ran for President the Communist Party USA and the Democratic Socialist Party both supported and identified with Obama's assertions and ideology. But now I will be told that isn't what Marx taught and Obama doesn't "use" socialist strategies. So make it clear I'm not saying he is a socialist-I'm saying he is using their strategies for political goals. Sort of like you can be anti-zionist but not anti-semitic.

allhans
24522
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allhans 10/12/11 - 01:23 pm
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MY father is 100% right.

MY father is 100% right. This radical liberal cause is sponsored not by greed for money but a combination of money and power. Greed for POWER. It is and has been from the beginning.
A leader wanting to become a "global leader" and control the world all on the backs of the working class. I have never seen so much greed, such a hunger for power over the "little man" as our elected leader.

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