(Junior John is a disgrace, let's do better for Texas with Rick Noriega. - promoted by boadicea)
This diary is an expanded and updated re-post of one I wrote previously on Texas Kaos. This updated version is also cross posted on The Burnt Orange Report.
As predicted, John Cornyn voted for the Wall St. bailout the other night. I never doubted for a moment that John Cornyn would ever in a day let down his buddies the fat cats. After all, the Republicans enabled Wall Street's financial melt down by voting for deregulation and lifting all "shackles," as they would call it, from their beloved soul mates on Wall Street.
Deregulate, Baby, Deregulate.
And boy did they ever do that big time.
Republicans dumbly believed Wall St. would police itself. Indeed, this is what a recently retired professor at the London School of Economics has to say about the U.S. financial melt down:
I felt it was high time for me to pay a call to our esteemed U.S. Senators to inquire about the recent financial melt down on Wall St. Since as a taxpayer I will be expected to step up and bail out a bunch of corrupted greed mongers I believe I deserve an explanation from those who got us into this unbelievable mess in the first place.
Dear Senator,
In the past two weeks I feel as if I have been hit by two devastating hurricanes. Many residents in the Houston and Galveston areas are still without power and most continue to struggle with Ike's aftermath. The nation's fourth largest city and its surrounding areas have taken a tremendous beating.
Just when we were beginning to think we could see the light at the end of Ike's tunnel we now find ourselves suddenly blindsided by another hurricane. This one did not sweep in from the Gulf. This unexpected monster came hurdling down from Wall St. and its aftermath could prove far more cataclysmic than Ike.
What is this business about a financial bailout using the taxpayer's money? It seems to me that a group of greedy and corrupted fat cats on Wall St., with the blessings of their supporters and cheerleaders in Congress, raped and pillaged the United States and now taxpayers are being asked to pay for the carnage. And we're supposed to turn over nearly $1 trillion and say "we trust you to clean up after yourselves."
Please.
See what Naomi Klein, author of The Shock Doctrine has to say about the Wall Street debacle.
