Posted 5 years ago on Jan. 3, 2012, 4:35 p.m. EST by brightonsage
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And, they didn't vote for the folks in Congress that voted for his policies 95% of the time. They didn't vote for the folks who voted for two wars that were “off budget.” And, they didn't vote for the folks who voted for the “”repeal and replacement” of the Glass-Steagall Act with the Gramm–Leach–Bliley Act which was passed in the Senate 90–8 (one not voting) and in the House: 362–57 (15 not voting). The legislation was signed into law by President Bill Clinton on November 12, 1999. And they didn't vote for the folks who voted for the Commodity Futures Modernization Act of 2000, signed by U.S. president Bill Clinton on December 21, 2000.
And of course, they didn't support the Bush White House, in February 2004, working through the Office of the Comptroller of the Currency (OCC) which officially preempted national banks from state laws regulating mortgage credit, including state anti-predatory lending laws. (This was far broader than the 1996 regulatory preemption by the Office of Thrift Supervision (OTS) applied to federally chartered S&Ls). The Bush White House claimed that banks should “only be subject to federal laws regulating mortgage credit.” Of course the states which did prevent these predatory practices have seen much lower foreclosure rates.
But, I get it. It was nobody's fault and even though it all fell apart before Bush could leave office, it is Obama's fault, because … we want it to be Obama's fault. Sure I noticed that a bunch of Democrats, supported them, too. And they voted for two wars. Do I blame them too? Sure.
Did I oppose these missteps when they occurred. Yes, I did. But, unless you did, as well, you should fess up and admit you supported the policies that got us into this mess before you start criticizing this movement, and telling us how wrong we are for trying to fix it. The 1% are fighting regulation and consumer protection just as hard now as they did then.