Economic question directed at Gordon Smith:
He recounts some emotional drivel about how "what we need to do, we're trying to stabilize the monster that's devouring Wall St before it gets to your street." "That's why I worked in the Senate w ... Obama, McCain, Hillary." Trying to prevent "greeaaat nat'l emergency. I know the temptation is you wanna blame it on one man or one party. But guess what; this monster has many fathers and a long tail. They include Republicans and Democrats. They include public/private sector. And what it requires now is us to come together and stop blaming and find solutions --
*interrupted by moderator b/c max time reached*
-- because what's at stake is your future." (Nice attempt to pull Democrats into your nasty economic mess, Republican-man.)
Jeff: "the meltdown on wall st is a natural consequence of deregulation, of Gordon Smith and George Bush's policy (well done on the linking of the two, Jeff) of deregulation, of big banker boys of wall street doing what they want at the expense of all Americans. Bill GSmith supported last week is 700billion blank check to biggest corps.; it doesn't address the core issues, it doesn't resolve the issues, no oversight, it doesn't send voice of confidence to the world that we're ready to take on these issues. I will restore fair rules and oversight of wall st."
questioner: please answer the Q?
Gordon Smith: "First have to stabilize. Then modernize financial oversight. What we have is literally regulatory systems from the New Deal ('cause Republicans hate the New Deal and must kill it at. all. costs). Seven diff agencies over Wall St. That needs to change. (Is he suggesting there should be NO agencies overseeing Wall St.? Because he doesn't suggest replacing them with anything, just that we need to "modernize." Hmm.) Don't raise taxes. Jeff says we have to raise taxes. He has acted in Salem like he'll raise taxes. Then we have to sympathize (HUH?) with those who are most affected; those who care about their 401ks, their car loan, their student loan; we have to unfreeze the market or what happened on wall st will get to your street.
My interjection, again: Gordon Smith = empty rhetoric all the way. Sympathize? Really? So only people who have 401ks and car loans matter? How about people who can't afford to buy enough groceries to feed their families because they can't earn a living wage IN RURAL OREGON, Mr. I-own-a-factory that-employs-illegal-immigrants IN-RURAL-OREGON-at-miserable-hourly-wages? Bah. You sicken me.
Jeff: "End predatory practices that put people into sub-prime loans. 2/3 of people in sub-prime loans would qualify for prime loans. It's an incredible disservice of deregulation thanks to George Bush and Gordon Smith put onto our families. Second: require SEC restore complete oversight and accountability not just for Wall st but for this 40 trillion dollar credit-swap insurance industry."
(Q addressed to Merkley) "your opponent has discussed his ability to cross partisan lines, cross current President when he thinks necessary; give example when you've differed w your party?"
Jeff: "I've diverted from my party on number of nat'l resource issues; arguing that we should be able to build a race track, to change land use rules in rural Oregon; arguing to use old mill sites to create new industry in rural Oregon. on nat'l level, though, I've had major differences. Opposed war in Iraq; Al-Qaeda attacked us, not Iraq; Afghanistan, that's where we belong. Gordon Smith gave Bush blank check on war, now we have 4100 Americans who have paid the ultimate price. I also disagreed w my party on retroactive immunity; saying that telecom companies that spied on Americans - we deserve to know facts about that, and I certainly disagreed w my party on this blank 700 billion check w wall st with no accountability."
My note: I SO love him for talking about the telecom immunity. Srsly.
Gordon Smith: "Lotta Democrats who would disagree w you about accountability (yep!, ones who maybe shouldn't be re-elected, imo); on Iraq - Jeff says he was against it from beginning but Oregon state house passed resolution that supported for forceful removal of Saddam Hussein, supported Bush, you don't get maybe or I didn't mean it in the Senate. That's what he did." (Jeff, in fact, supported it, but made a clear statement on the floor of the House regarding said vote at the time, you can read more about it here:
Sounds as if it was a damned-if-you-do, damned-if-you-don't scene. Republicans kinda pretty much love boxing Dems in better than anything else. Win at all costs! Even if it means the country fails entirely! At least the Republicans won! Something! I'm not sure what! Woo-HOOOO!)
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