Senate Republicans holding up Financial Reforms: So what's new.

GOP Senators are holding up passage of the Financial reform Bill worked on since the markets tanked. They continue to do the bidding of their masters, Corporations and specifically the lobbying efforts of big Banks. Republicans argue that we have enough Financial reform and we don't need more as they say this restricts the flow of capital. And their problem with that is what? I thought that is how we got in trouble in the first place. We had unregulated, unfeathered gambling on Wall Street causing $65 Trillion dollars in risky Derivatives and caused Banks to promote bad Sub Prime loans.

We are seeing the same political antics we have seen on every other piece of legislation since the election of President Obama. The Democrats want financial reform, so they proposed legislation in the Banking and Finance Committee, chaired by Rep. Barney Frank, Democrat from Massachusetts, in the Congress and Sen. Chris Dodd, Democrat from Connecticut, in the Senate in early 2009, with the hopes of working with Republicans in a bipartisan effort. Six months earlier, the stock markets had melted down due to the Sub Prime loan problem and Banks had been repackaging them and selling them as Derivatives. The Bush Administration had pushed through TARP at that time as they were worried the banking system might collapse. It was very scary times. This was the background when Barack Obama was elected. What was not known was that Senate Republicans were going to decide not to work with our new President when it came tome to vote for change.

The Republicans kept negotiating with Democrats in hopes of moving them off their "extreme Socialist agenda" and negotiated throughout 2009 on these Committees until Democrats moved off their positions and the Bill was diluted. They continued this approach well into 2010 until, on the Senate side, Sen. Dodd finally gave up and decided to write the Bill himself. He wrote a Bill but did not go back to earlier positions he had. He incorporated the Republican negotiated points into his Bill, less a few minor deletions, but in essence the same Bill. The Republicans as a block have not voted for this Bill and even if it gets passed, because the Bill was diluted, it still will not solve many of the original problems because the Republicans have endorsed all of the Bank Lobby positions. Banks don't really want regulation, so now you understand the problem.

So here we are trying to pass Financial reform as the stock market keeps dropping and the problems have not been totally solved in this legislation and will not as long as the Democrats attempt some bipartisanship. The Republicans can claim the Bill does nothing to resolve some of the issues (They are correct in this but it is because they worked to dilute the legislation). It actually does restrict the flow of capital, as it was intended. It all sounds bad from people who don't understand the issue or the background. In any event this Congress and this President will be blamed for the outcome. The Democrats have been hoodwinked and the Senate hasn't had the courage to change the filibuster Rule and get passed these regulations. I am so tired of Democrats being wimps. You know if their roles were reversed the Republicans would eliminate the Rule in a heart beat! It's a damn shame.

An Open Letter to President Obama and Senate Democrats.

I feel enraged at the lack of compassion the Republicans in the Senate have for the unemployed needing a hand in the form of unemployment benefits which have run out. Yet, these same Republican Senators passed every request by the Bush Administration, without providing the funds for them, including the lack of funding of both the Iraq and Afghanistan wars, unfunded Medicare benefits which they approved, as well as unfunded requirements from the No Child Left Behind legislation they also approved.

They want government destroyed by weighing it down with debt, while they blame Democrats under the Obama presidency for the debt problem. I am outraged that Republican voters allow them to get away with it. Is there no moral compass, where voters know the difference between right and wrong, moral and immoral behavior? The Republican Party used to be a great party. I have voted Republican in earlier years of my life. But the crazies have taken it over and pulled them so far right they are now extreme at their very center. It has caused the Democrats to also go more right and the Progressives are wondering where is the Barack Obama they elected?

The problem has been compounded only because President Obama and the elected Democrats in the Senate have tried to be "bipartisan". This is a character flaw of the leadership and of President Obama. I can forgive them for this up to now. Maybe President Obama needed sufficient data to convince him that the Republicans are serious in their pursuit to defeat him and Democrats. Maybe he needed more data to convince him that they would accept him eventually as President, being half black. Maybe he needed more data to be convinced it was just politics and not a grab for power. He was wrong. It has been a systematic war the Republican leadership has been waging. There has not been one single Republican vote to support your legislation. Isn't that enough data?

It's time, Mr. President and Senator Reid. It's time to get this. It is as real a war as was Iraq and Afghanistan is with its own type of IEDs (Improvised Explosive Devices). These IEDs are placed in front of all legislation that you propose. It is called by a special name, the filibuster. It's time to play war too! It's time to change the Senate Rules and get the agenda passed you were elected to pass. It's time to take the gloves off and put a steel rod in that spine of yours and stand tall. You don't have much time left before you lose the people that got you elected, Mr. President and Sen. Reed. Change the Rules on the Filibuster and let them see you have the spine to do what they had threatened you with, when they were in power during the eight years of Bush/Cheney. It's time for that so called "Nuclear Option", ending the filibuster as we know it. 41 Republican Senators have held this country hostage over the will of most of the population of this country, as 57 Democratic Senators have voted for the will of the American people.

You haven't lost the middle because of the Republican tactics; you've lost more of the Independents because you haven't stood tall enough to keep their respect. You haven't shown them you deserve their support. You have turned the other cheek instead of metaphorically slapping their face. Mr. President, you can change the way Washington behaves, but first you must lead like you want people to follow. YOU must change your style and your tactics. So must Senator Reid.

So far, it isn't working like it should at this point in your Presidency. But you have had a moment of leadership with General McChrystal being removed from duty. And while I'm at it, you need to have another moment of leadership in the Gulf Oil Spill Cleanup. Admiral Thad Allan is a good guy, but he doesn't give the confidence of a "command and control" guy, like General Schwarzkopf has. Get a strong leader to seize control of this mess in no uncertain terms. We are at war in the Gulf too Mr. President. Don't make the error of trying to lead this yourself. You need someone else who has total authority to do what is necessary and understands logistics and has the skill set to manage this catastrophe. I recommend General Schwarzkopf. Now is time to lead!!!! God help us if you don't.

Update: I sent a first person email to the President at the White House with this letter.

Is bad Healthcare reform dead? Does good health insurance reform have a chance now? Look for answers in healthcare stock prices.

With all that has happened this past week, I thought an update on the Healthcare stocks was in order. If you have been reading here for a while, I have said countless times, that if you wanted to know if the proposed Legislation by the Democrats was good for average Americans, just watch the price of the stocks of United Healthcare and Wellpoint.

As you can see from the chart above, back on Dec, 5th, the Democrats conceded that the Public Option appeared dead. On Monday, Dec. 7th both stocks started to rise and gained almost 30% at the peak of each chart. On Tuesday, in Massachusetts voted in a Republican Senator to fill former Ted Kennedy's seat, a significant upset which continues to reverberate throughout the Democratic Party and the News media, this weekend. Again, as you can see from the charts, this election of a Republican, which denies the Democrats of their super majority of 60 votes, also appears to deny the Health Insurance companies the benefits they were hoping to get with the proposed legislation. This is signified by the drop after the market close on Tuesday, Jan. 19th and the market close of Jan. 20th and had continued through the day yesterday.

If you assume for a minute that what is good for Health Insurance companies is bad for average Americans, then this move is good and hopefully will continue. The Healthcare legislation needs to be bipartisan.

My suggestions for this are as follows:
1. What is needed is simplicity, not a 2008 page Bill.
2. Insurance companies must not deny coverage for pre-existing conditions any longer.
3. People should be able to buy Insurance across State lines, as they can do for car insurance.
4. Tort reform is also important and should be included in any proposed legislation.
5. Everyone should be required from age 25 and over to purchase Health Insurance.

This would be a good start for bipartisanship and would still allow an unprecedented victory for the Obama Administration and the Democratic Party.