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Hillary Clinton: Economic Meltdown Is 'A Total Loss of Trust'

Submitted by BuzzFlash on Tue, 09/23/2008 - 7:54am.

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A BUZZFLASH NEWS ALERT
by Christine Bowman

"What this crisis is at bottom is a total loss of trust," Senator Hillary Clinton told Joe Scarborough and Mika Brzezinski on the MSNBC Morning Joe show Tuesday. "People don't believe what they are being told, Americans have no reason to believe either their government or the Wall Street banks, banks don't believe each other, they don't know how to value the assets that they hold or that they've sold, so we need to take a deep breath here. And I think that' s what secretary Paulson was trying to do."

"But there has to be some checks and balances. We can't just turn over $700 billion. We need to have an ability to rewrite these mortgages, we need to begin to rein in the excesses on Wall Street and in the marketplace, and we need to do it in a way that will get our economy up and moving again."

Senator Clinton endorsed the idea of "trying to stay in the center, be pragmatic, come up with solutions that work."

Citing the success of FDR's administration in the 1930s as a model, she said America once again requires solutions that can create a framework that addresses both conservative and progressive concerns.

"We established back in the 1930s under incredibly severe economic conditions the framework for regulation that frankly made our market the envy of the world because we had regulation, but we didn't in any way constrain the marketplace, so we had unprecedented growth for all of those decades."

"Well, we're in a new global economy now and we haven't kept up with what is needed for a regulatory framework to try to make sure we rein in the excesses and the abuses."

"Human nature being what it is, people are going to test the limits," of any system, she indicated, which is what we have seen. "Let's get together, recognize that we need new frameworks that keep people from abusing either the public trust or the private trust."

Congress and the Bush Administration continue today to seek those solutions. Democrats, among them Senator Clinton, have proposed more oversight and safeguards for taxpayers, in response to the administration's call for a "clean" bill granting broad powers to the Secretary of the Treasury to act unilaterally to stabilize market elements.

A BUZZFLASH NEWS ALERT

Trust and Compromise

Submitted by urthsong on Wed, 09/24/2008 - 1:31am.

If you cannot trust the fools who went on this decades-long de-regulation binge, why should you compromise with them when they continue to be and have been proven dead wrong? Myths about what liberals believe have been spun for some years now with the intention of alienating Americans from their own stories, their own history. The majority of Americans are not that polarized politically. Compromising to our continued detriment is ridiculous. Congress and the American people are handed a proposal accompanied by shock and awe. We all know it's very serious. Any sane person had to have been expecting this shoe to drop for years. But do we continue to trust them now? Do we compromise on what they want? Or is it just more of the old con game they've been playing all along? Let the sane people write this deal. Scrap the other one. Start from scratch. If Bernie Sanders can generate a good start to a plan, there must be others who can get creative as well. Don't trust those who got us into this, not with their corporate plots or their voting systems nor their wars for profit. Quit compromising. Pat Williams

Economic Meltdown = Opportunity

Submitted by crackerjack on Tue, 09/23/2008 - 7:30pm.

"To do what?" "Make sure that there are no more meltdowns." "How?" "We see to it that Congress restructures banking and financial institutions such that they primarily serve the public interest rather than private interests." "Anything else?" "We elect someone president who's going to dismantle Empire-USA plus turning things around here at home." "And then what sort of world?" "It'll be up to us."

Let's check on who benefits!!!

Submitted by mugwump40 on Tue, 09/23/2008 - 3:40pm.

Paulson was CEO of Goldmine - Sacks. He received $9M+ when he left to become Sec of Treasury. Can you spell "buy your man"? ---------------------------------------------------------------------------- 56 Congressmen own large volumes of AIG. Pelosi and Kerry right up at the top. ----------------------------------------------------------------------- Let's have a million person march on Washington D.C. BYOB* --------------- *(Bring your own bulldozer - let's level the place.)

Simple is as simple does

Submitted by Captain Jessie on Tue, 09/23/2008 - 11:40am.

Let's bring this down to simplicity. We are a nation of rules and regulations. We have traffic lights and speed limits as example. We have had rules and regulations to follow since childhood. But didn't business and Wall St. have rules and regulations? Regulations were taken off or ignored by the so-called "free market promoters" and here we are ... a country that is a heartbeat away from collapse because they were trusted to do the right thing.

Betrayal, she says??

Submitted by hazmaq on Tue, 09/23/2008 - 10:33am.

Hmmm.
That's from the woman who helped write the Bankruptcy bill - a really spiteful bill written by her NY donors where a Judge's right to stop evictions during the Bankruptcy proceedings was deliberately stripped out - and then knowing it would pass under the Republican controlled Senate, didn't cast the vote for it to not anger her Democratic voters.

Kind of like saying she's a Democrat and will support Obama, and then disappears, so she doesn't have to. Or pulls a Bill and appears, but has nothing supportive to say.

With support like that, I don't trust anything either of them have to say anymore.

Nationalism is not terrorism. And an adversary is not an enemy.

She didn't cast a vote for it ....

Submitted by Yman on Wed, 09/24/2008 - 7:23am.

.... (or, more accurately, against it) because she was in the hospital with her husband at the time. Yeah ..... the nerve of that woman. Missing a vote just because her husband was having heart surgery that day.

Just so there's no confusion, there were many versions of this bill, which began working their way through the Congress in 1997. In 2000, Bill Clinton pocket-vetoed the first version to pass both Houses, after Hillary had worked to kill an earlier version of the bill (speeches, op-ed pieces, discussions with members of Congress, etc.). She voted for a newer version of the bill in 2001 (one of 36 Dems favoring it), which was not enacted. Re: the 2005 bill, she voted against the bill on a procedural motion, but missed the final vote, which passed the Senate 74-25.

"Betrayal"? Missing a vote to be with your spouse when they're having heart surgery? ....... No.

"Betrayal" is more like the violation of a vital promise. Like vowing to oppose the FISA "compromise" - even filibuster it if need be - but, after winning the nomination - breaking your word and voting for it.

Now that would be a "betrayal".

You don't trust anything either of them have to say anymore?

I'm sure they're .........

.... crushed.

How could they have lost our trust?

Submitted by kivals on Tue, 09/23/2008 - 9:34am.

How could the wizards of Wall Street have lost our trust? It must be those G-dd-mn libruls saying bad things about their betters! That's because libruls just don't understand the free market. The free market is where the financial wizards of Wall Street are free to gamble on the market, and when they lose their shirts, they are free to pick the pockets of the little people so they can keep on gambling. Libruls, that is what little people are for! Little people were made by GOD to support the gambling habits of their betters, the bettors.

Betrayl of Trust

Submitted by ernieson on Tue, 09/23/2008 - 8:26am.

Who do you trust when trust is a must? Betrayl of trust is one of the worst sins people can commit. Once trust has been betrayed, it is nearly impossible to regain. The Bush administration has repeatedly betrayed the public trust and trust of the rest of the world. ZERO CREDIBILITY is what Bush has earned for himself and the Republican Party. The time is right for the Dems to take the reigns of trust of the people of this nation.

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