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Monday, September 22, 2008 

Endless Deregulation Is The Cause Of Wall Street Disaster - And Stephen Harper Wants More Of It Here In Canada!

For decades now, the Gospel of the Right has been 'deregulation'. The ideology of American Right wing presidents Reagan, Bush Sr., and Bush Jr. has been to deregulate wherever possible ... most notably ... Wall Street. So it should come as no surprise to anyone, that letting Wall street 'regulate' itself, has led to the disastrous financial melt down that is currently occurring. You see, the basic rule of Right wing ideology is to get the government off the back of good honest hard working business types, and miraculously ... ALL WILL BE WELL FOR EVERYONE!

The flaw in the ideology is that there are a lot of crooks, scheisters, con men and greedy thieves who will walk over everyone else in their goal to accumulate as much capital as is humanly possible.

North of the border, Canadian Right wing ideologues have modeled their beliefs on the same concepts. Preston Manning's Reform Party ... (now having morphed into Stephen Harper's 'Conservative' Party), completely adhere to this same failed ideology. Deregulation is their reason for being. Harper wants to give Canada MORE of what is causing the fiscal failure of Wall street and the American economy.

They have only one trick in their repertoire - and if used by the hand of a majority Harper government in this nation, well ... we will have only ourselves to blame!

McCain Defends Deregulation of Wall Street

And to prove that I know what I am talking about .. here were some earlier predictions on Buckdog .....
-If The Free Market System Works So Bloody Well - Why Does The Private Sector Always Seem To Need Billions Of Tax Dollars To Bail The Bastards Out?

-The Myth of 'Fiscal Conservatism'

And to think that it all started with Ronnie Reagan.

My, we've come a long way downhill, haven't we?


To be fair, this is a typical conservative bafflegab. Its not really 'deregulation' but changes in regulation that favour big companies over individuals, regulation changes that slant the playing field in favour of the old-school companies within it and prevent new, more innovative and probably cheaper companies from taking the field.

Dean Baker nailed in "The Conservative Nanny State"

If this were real 'deregulation' - ei, the elimination of regulation - hardly any of those companies would have taken on the risks tht created this crisis, and those that did would rightly be out of business right now, with their owners being personally sued by their duped investors.

Don't let the conservatives create the context. This was about regulations that favoured corporatism and neo-mercantilism, that allowed the companies in question to privatize the profits and sociallize the risk and the losses.

Its Socialism for the Rich.

Its not really 'deregulation' at all.

Don't let the conservatives dictate the obscuring language of the debate or frame it in their terms.

Please list the 'deregulation' that caused the crisis.

Good luck.

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