Heading Back Into the Ditch

In September of 2008, when John McCain suspended his presidential campaign and went to Washington to debate the TARP bill, I told a friend, this was the beginning of the fractionalization of the Republican Party. Since the debate over TARP, grassroots Tea Parties sprung up around the country. In the interim the Tea Party has been hijacked by career politicians, turning their anger and energy into votes, replacing many incumbents on both sides of the aisle.

Now that there are Tea Party representatives in Congress, the infighting has begun. The career politicians are trying to sway and steer the Tea Party into an ideology they oppose. An immediate issue is raising the ceiling on government spending. Other issues soon to surface will be to overturn the “Volcker Ruling.”

The Wikipedia definition: “The Volcker Rule was first publicly endorsed by President Obama on January 21, 2010. The proposal specifically prohibits a bank or institution that owns a bank from engaging in proprietary trading that isn't at the behest of its clients, and from owning or investing in a hedge fund or private equity fund, as well as limiting the liabilities that the largest banks could hold. On January 21, 2010, under the same initiative, President Obama announced his intention to end the mentality of "Too Big to Fail."

In other words, the ruling was designed to stop American tax payers from bailing out banks that gamble on the Wall St. market which caused the recent economic recession.

Meanwhile, Karl Rove is addressing the issue of dismantling the EPA which will completely deregulate big oil, big coal and gas.

President Obama often spoke of getting the car out of the ditch which the Republicans drove us into, and not handing back the keys. Already, with just a half of set of keys we are about to reenter the ditch.

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I know this is simplistic,

I know this is simplistic, but I can't help but think that restoring Glass-Steagall would solve some of the problems.