Tuesday, September 15, 2009

What Are We Waiting For? Reform and Regulate.

In the depths of our Great Recession 2007-2010, it has become clear that the financial markets are not self correcting, as past Federal Reserve Chairmen believed.
Numerous jobs are being eliminated, permanently. With the terminated jobs, health coverage and housing are threatened.

Any elderly person who tried to find a drug plan with Part D of Medicare since 2003 has had to wonder at the crazy "doughnut hole" that cut out payments for drugs at one level and then reinstated them at a higher level when the costs in a year became very high. This costly addition to medicare was rammed through Congress in the middle of the night, with voting held open for three hours until arm twisting was completed. And this was six years ago!

Financial market reform is called for: regulate the hedge funds, ban the credit default swaps and securitized mortgage loans, eliminate sub-prime lending and the so-called mortgage brokers outside of the banking industry.

Health care reform is long overdue: remove the cap on benefits, don't allow cherry-picking of the healthiest and disqualifying someone with a "condition."

A strong majority of us voted in 2008 for a different course in our nation's direction. Where is the outrage? Outrage at the delays after three quarters, and at the political nonsense that parades across our TV screens and interrupts sensible debate in town halls across the country and now even in the halls of Congress.

It is time to overturn the frozen status quo - of government of the money, by the money, and for the money!

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