Saturday, April 25, 2009

Republicans Seek To Rename The Democratic Party

Republicans ushered in totally unregulated free-market enterprise in every business and public interest quarter while they controlled all branches of government. Unregulated free markets simply means there is no rulebook and no referees to enforce rules of fair and honest play. That permitted corporations to grab monopolistic control over markets and drive reckless speculative excesses, thus overriding the power of free market competition.

As Republicans eliminated the regulatory guidelines of prudent business and banking practices, unscrupulous home mortgage lenders were free to unfairly prey on both American home buyers and securities investors. Mortgage lenders were free to aggressively market risky sub-prime home mortgages to unsuspecting home buyers and then speculatively trade those risky sub-prime loans in banking and securities markets to such unrestrained levels that the financial system was at the brink of collapse.

The resulting financial system "crisis of credit" froze business and consumers out credit markets literally freezing the flow of business transactions, particularly in the housing and auto industries. The U.S. government was forced into bailouts of banks, securities companies and "too big to fail" corporations to avert economic disaster.

An unregulated free-market system is like asking professional football teams to play a season without a rulebook and without referees to enforce the rules of play. The game of football would be reduced to chaos and a lot of casualties on the field of play.

Over the last eight years we have seen what happens when the free market rulebook is scrapped and the referees leave the free market field of play. Democrats want to restore healthy free market competition, which naturally drives innovation and economic growth, by making sure that American business and financial institutions follow some basic rules of fair and honest play.

To this idea that business must have a rule book of fairt play and referees to enforce the rules Conservative Republicans cry "Socialism."

Refering to Democrats as members the "Democrat Party" rather than the "Democratic Party" is not derogatory enough for Republican National Committee conservatives.

In an e-mail sent to the 168 voting members of the RNC committee, RNC member James Bopp, Jr. is urging the membership to adopt a resolution that requires Republicans to always refer to Democrats as members of the “Democrat Socialist Party.”

While RNC Chairman Michael Steele does not strongly support a RNC resolution to officially rename the opposing party, he supports the idea of "branding" Democrats as socialists for supporting the concept that a healthy free market system needs business to follow some basic rules of fair and honest play. “The Democrats are indeed marching America toward European-style socialism, and I will continue to criticize their dangerous policies in that regard,” Steele wrote in a memo to RNC members.

No comments:

Post a Comment