How Do Conservative Voters Keep Falling For This?
Ask ANY conservative and they will tell you that the bailouts sucked. Some may agree that they were necessary (reasonable). Some will insist that Obama was responsible (morons). All will say that it should never happen again.
So why is the GOP, you know, the party that’s supposed to represent conservative thought, why is the GOP so dead set on making sure it happens again?
The Dodd-Frank financial reform law is supposed to, among other things, stop bailouts. One way it does this is the Volcker Rule which says that banks cannot use depositor (yours and mine) money to make their wild casino bets. Not unreasonable, right? Our money is guaranteed by the FDIC (a government function) so if a bank “loses” it, the government will cover the loss to make sure we have our money. Why should we allow banks to gamble with it? If they win, they keep the profits, if they lose, we, the taxpayers, eat the loss aka Bailouts.
Socialize the risk, privatize the gains? Total garbage and not a single conservative would disagree. The Volcker Rule stops this.
Yet the GOP is dead set against it.
Mind you, conservatives swear blood and fire on Obama’s head for “attacking” job creators while simultaneously cursing the bailouts. But as long as the GOP dangles abortion and gay marriage in front of them, I guess conservatives don’t care that their “representatives” are doing the exact opposite of what they sent them to Washington to do.
How nice for them.