Letter: Blind to nation’s needs
I always thought the Republican Party was the self-professed party of Law and Order. But it seems that the high moral ground is no longer its concern.
Whether the GOP is talking about pollution laws or financial regulations, Mitt Romney, Paul Ryan and Scott Brown can’t stop crying that we need to slash regulations to the bone if we want a flourishing economy.
In 1999, the repeal of the Glass-Steagall act was orchestrated by the Republican controlled congress, saying “This will release the shackles” on our financial institutions. (In an unfortunate lapse of good sense, President Clinton signed this repeal into law.)
The result: nine years later the ‘08 meltdown practically destroyed our economic system.
Recently, the newly retired CEO of Citibank said that we should reinstate the Glass-Steagall Act. Oops, too late! We will be dealing with the economic carnage of ‘08 for decades to come.
But Republicans wanting to kill off regulation deny all that. They want to make us believe our economic meltdown is all Obama’s fault.
The truth is otherwise. How long can the right wing keep running away from its own mistaken view of our nation’s needs, the suffering their blind ideology imposes on us all?
Herschel S. Shohan